{
  "id": 17288519,
  "title": "October ends with a thud for Intel, Reddit, AI stalwarts",
  "url": "https://urgent.news/2026/10/30/october-ends-with-a-thud-for-intel-reddit-ai-stalwarts-17288519",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-30T20:34:04.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/business/october-ends-thud-intel-reddit-ai-stalwarts-6508591"
  },
  "original_language": "en",
  "account": "October concluded on a disappointing note for leading technology and AI companies. Intel and social media platform Reddit saw their stocks plunge by 29% and 13% respectively, while chipmaker SanDisk dropped 13% after a sharp decline in the broader technology sector. The decline followed a turbulent week for major tech firms, including Microsoft, Meta Platforms, Amazon, and Alphabet. These \"hyperscalers\" have been responsible for over a third of all capital spending in the S&P 500 over the past year, and investors are growing concerned about their mounting debt and investment strategies.\n\nThe Nasdaq composite index experienced its largest monthly decline since June, plummeting 7.8% from its peak after ending the month down more than 3.5%. Tech stocks, which had been buoyed by positive sentiment, saw a broader pullback, as Treasuries rallied, leading to a negative impact on the overall market. Silver declined by 6%, wiping out 31% of its 2025 gains, while gold dropped by 3.5%, down 10% for the year.\n\nThe recent stock sell-off is primarily attributed to the temporary nature of the recent rally, rather than a significant leverage issue. Sahak Manuelian, managing director at Wedbush Securities, noted that the market's previous parabolic moves have resulted in a significant downturn, with many investors now withdrawing their investments and seeking alternative options. The situation has been described as a \"very nasty downdraft\" following the extreme swings in market prices.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}