Intel Plunges 25.7% as Tech Selloff Hits U.S. Stocks at the Open

Intel shares fell 25.7% at the U.S. market open Friday, leading a technology selloff that pulled the Nasdaq down 2.2% as concerns about PC demand and cash flow pressured its recovery outlook. The Dow Jones Industrial Average slipped 0.2%, while the S&P 500 fell 1.1%, putting all three major U.S. indexes in negative territory at the start of trading. Amazon dropped 5.3% after its fourth-quarter outlook came in below expectations. Nvidia fell 2.5%, while cloud computing company Nebius slid 7.3%. Intel’s decline came amid a weakening PC market and pressure on free cash flow, weighing on expectations for a recovery.

Source: TokenPost