Overview
- The Nasdaq fell 747.72 points, or 2.9%, to 25,437.00 with an intraday drop that exceeded 1,000 points, and the Dow lost 572.25 points to close at 51,770.31.
- Intel plunged about 28.6% after its guidance disappointed investors and recalibrated expectations for semiconductor demand.
- Amazon slid roughly 1.4% after revenue and profit missed forecasts and investors flagged the company’s higher-than-expected AI capital spending.
- Selling spread across chip and AI-related names, with Nvidia down about 4.2%, as investors pulled back from firms tied to heavy AI investment.
- Market participants cited recent credit worries at CoreWeave as amplifying risk aversion and said the losses could curb AI-related capital spending and funding during earnings season.