Nasdaq falls 2.86% as Intel drops 28.6% on a weak forecast

The Nasdaq Composite closed at 25,437.00 on Friday, down 2.86%, and the S&P 500 lost 1.82%. Nasdaq 100 companies shed more than $1tn of value, according to Fortune. The Nasdaq fell 5.3% in October, its worst month since March 2025, and ended 7.8% below its close of 6 October.

Intel closed at $65.76, down 28.6%, after guiding fourth-quarter revenue to $15bn–16bn against the $17.1bn analysts expected, even though data-centre revenue rose 78%. It cited a slower PC market, memory prices and a fatal explosion at its Israeli plant, and said it will not produce positive cash flow this year. The shares had risen about 150% this year before the report.

Amazon fell about 2%. Amazon Web Services grew 39%, but third-quarter capital spending of $77.3bn beat the $58.7bn estimate and free cash flow was negative $42.4bn. Exxon and Chevron briefly touched record highs.