Nasdaq ends October with its worst month since March 2025 as Intel plunges 28.6%
The Nasdaq Composite fell 2.86% on Friday, its biggest one-day drop since June; chip stocks lost 7.2% while oil majors and US Treasuries gained.
US stocks closed the last trading day of October sharply lower as worries about the cost of the AI build-out spread from Big Tech to chipmakers, Reuters reports.
Friday’s close
- Dow Jones: −572.25 points (−1.09%) to 51,770.31
- S&P 500: −140.32 points (−1.82%) to 7,580.07
- Nasdaq Composite: −747.73 points (−2.86%) to 25,437.00 — its largest one-day fall since 5 June and 7.8% below its 6 October record close.
Intel plunged 28.6% after results showing cash burn and slowing PC demand. The Philadelphia semiconductor index lost 7.2%, AMD 10.9% and Nvidia 4.2%; server makers Dell and HP fell 10.8% and 9.6%.
The month
The S&P 500 and the Nasdaq posted monthly losses, while the Dow ended October higher. According to Reuters, the S&P 500 tech sector had its worst month since March 2025.
Safe havens and oil
Investors moved into US government bonds: the 10-year Treasury yield fell to about 4.93%. Energy was the best-performing sector, helped by strong results from Exxon Mobil and Chevron. US crude settled up 2.08% at $104.12 a barrel and Brent at $117.63.
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