The Nasdaq Composite fell 2.86% to 25,437.00 on Friday, Oct. 30, its worst day since June 5, according to Yahoo Finance market data and reporting; CNBC also put the close at 25,437.00, down 2.86%. The S&P 500 lost 140.32 points, or 1.82%, to 7,580.07, and the Dow Jones Industrial Average fell 572.25 points, or 1.09%, to 51,770.31, Yahoo Finance data show, matching CNBC’s closing report. For October, the Nasdaq Composite fell more than 5%, its worst month since March 2025, according to Yahoo Finance and CNBC.
Intel shares fell 29% on Friday, their worst day since the 1970s, CNBC reported; Yahoo Finance data show the stock closed at $65.76, down 28.58%. The chipmaker forecast fourth-quarter revenue of $15 billion to $16 billion, below the $17.1 billion analysts expected according to LSEG, CNBC said, citing a weak PC market and an extended shutdown at a fab in Israel after an explosion earlier this month. CNBC said the drop cut the value of the U.S. government’s roughly 10% stake in Intel by about $12 billion. Intel reported its results on Thursday night.
Amazon shares slipped 1.4%, CNBC reported, after the company missed third-quarter expectations, kept its 2026 capital expenditure forecast at $220 billion and reported negative free cash flow for a second straight quarter. Yahoo Finance data show Amazon closed at $240.35, down 1.41%. Other chip stocks also fell: CNBC said Nvidia dropped 4%, Broadcom more than 5% and Qualcomm 11%. Earlier on Friday, Nasdaq 100 futures were down more than 2% and Asian chip suppliers said AI demand remained strong.
Reuters reported during the session that the selloff followed Intel and Amazon results that amplified fears about AI companies’ spending and about when or whether it will pay off. “It’s fair to say that this week, not just today, has been very much about the future of AI and what that’s going to look like, whether there will be a positive return on investment and if so, how quickly,” Oliver Pursche, senior vice president at Wealthspire Advisors, told Reuters. “Those that are falling short and seem to be missing the mark or not executing as expected are getting punished.”
CNBC noted that Alphabet, which had its worst day on record on Thursday, fell again on Friday.
Sources
- Yahoo Finance: Stock market today live updates, Friday, Oct. 30, 2026 (U.S. markets closed; index levels at 4:20 PM ET)
- CNBC: Stock market live updates, Friday, Oct. 30, 2026 (updated 4:20 PM ET; Nasdaq closed at 25,437.00, down 2.86%)
- Yahoo Finance: Intel Corporation (INTC) quote, close Oct. 30, 2026
- Yahoo Finance: Amazon.com, Inc. (AMZN) quote, close Oct. 30, 2026
- CNBC: Intel stock has worst day since 1970s, wiping about $12 billion off government’s stake (Oct 30, 2026)
- CNBC: Intel guidance disappoints as analysts cut price targets (Oct 30, 2026)
- Reuters (Stephen Culp, Purvi Agarwal) via Central Oregon Daily: Wall Street slides as AI cash burn worries spark tech selloff (Oct 30, 2026; midafternoon update)
- AI Tech Daily: Intel says data center and AI revenue rose 78% to $7.3 billion
- AI Tech Daily: Nasdaq 100 futures fall more than 2% after Amazon and Intel earnings