Closing Snapshot
- S&P 500 (SPX): 7,580.07 | -140.32 | -1.82%
- Nasdaq 100 (NDX): 28,384.85 | -1,017.66 | -3.46%
- Dow Jones (DJIA): 51,770.31 | -572.25 | -1.09%
- Russell 2000 (RUT): 2,811.84 | -47.38 | -1.66%
- VIX: 19.42 | +2.22 | fear gauge up 13%
- 10-Year Treasury Yield: 4.93% | -6 basis points | buyers sought the safety of bonds
- WTI Crude: $102.95 | +$0.95 (+0.9%)
- Brent Crude: ~$112.33 (January contract) | ~+$1.53 (+1.4%)
- Gold: $3,884.90 | -$146.50 (-3.6%)
- DXY (US Dollar Index): 101.96 | -0.08 (-0.1%)
Tech stocks closed out October with a sharp sell-off. Intel fell about 29%, its steepest one-day drop since 1974, after forecasting fourth-quarter revenue of $15 billion to $16 billion, short of the roughly $17 billion analysts expected. That landed on top of Amazon's and Alphabet's results this week, which had already revived worries about how much the largest tech companies are spending on artificial intelligence, and chip stocks took the brunt: AMD and Qualcomm each lost about 11% and Nvidia 4.2%. The tech-heavy Nasdaq 100 fell 3.5%, about twice as much as the S&P 500's 1.8%, while the Dow's 1.1% loss was cushioned by its smaller weight in tech. The selling was not universal: energy, consumer staples, utilities and health care all rose, and Regeneron gained 13% on strong drug sales.