Wall Street falls as Intel plunges 30% after gloomy outlook
Business
Wall Street had a rough Friday, with tech stocks taking a big hit.
The Nasdaq-100 dropped almost 4%, and Intel's shares crashed by 30% (their worst single-day fall in over 40 years) after the company shared a gloomy outlook.
Investors are worried that all the money pouring into AI isn't delivering the returns people hoped for.
S&P down 2.1% and Dow 1.1%
The selloff wasn't just about tech. The S&P 500 fell by 2.1% and the Dow slid by 1.1%.
Bitcoin also dipped to around $77,000 after Binance disclosed a record-breaking hack, while oil prices jumped on global tensions.
Some experts, like Matt Maley from Miller Tabak, say if this keeps up, more investors might start pulling their money out of stocks and moving it to cash instead.