US stock markets: "Absolutely brutal week" for tech investors - Nasdaq slips, Intel loses around 29 percent
At the US stock exchanges, the prices of numerous tech companies are plummeting due to concerns in the AI sector. Meanwhile, the prices for gold and silver are as low as they have been in a year.
US stock market indexes fell sharply on Friday due to disappointing quarterly reports from tech companies. The Nasdaq, which is heavy on tech stocks, suffered significant losses, marking its worst month in over a year. Intel's shares plummeted up to 30% after the company released weak outlook, with its stock closing 28.6% lower, amid concerns over high memory chip prices impacting PC sales.
The Dow Jones, S&P 500, and Nasdaq 100 also declined, with losses of 1.1%, 1.8%, and 3.5% respectively. Intel's poor performance was its worst trading day ever, affecting the US government's 10% stake in the company.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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