Intel Plunges 28.58% as U.S. Stocks Close Lower on Friday

U.S. stocks closed lower Friday as a sharp slide in semiconductor shares pressured major indexes. Intel plunged 28.58%, marking its worst one-day performance in at least 40 years. The Dow Jones Industrial Average fell 1.09%, the S&P 500 declined 1.82% and the Nasdaq Composite lost 2.86%. The Philadelphia Semiconductor Index dropped 7.2%, a decline 4.34 percentage points larger than the Nasdaq’s. Chipmakers had the steepest losses among the stocks listed. SanDisk fell 14.1%, Qualcomm slid 11.12% and Advanced Micro Devices declined 10.88%. Micron Technology lost 5.3%, while Nvidia dropped 4.22%.

Source: TokenPost