Intel plunged 28.6% for its worst drop since 1974 — and the AI sell-off gave the S&P 500 its worst day since June

A sell-off for tech stocks got even worse Friday on worries that Wall Street’s frenzy around artificial-intelligence technology sent prices too high. The S&P 500 tumbled 1.8% for its worst day since June, and it closed out a third straight losing week. The weakness for technology stocks dragged the Nasdaq composite down a market-leading 2.9%, while the Dow Jones Industrial Average dropped 572 points, or 1.1%. The U.S. stock market remains only 3.1% below its all-time high , which has boosted the value of workers’ 401(k) accounts, but it’s become increasingly shaky as Tuesday’s midterm elections in the United States…

Source: Fortune Crypto