Intel's earnings guidance falls short of expectations, shares plunge 29% in a single day, dragging down the U.S. tech sector for consecutive days
Affected by fourth-quarter earnings guidance falling short of expectations, Intel plunged 29% in a single day on October 30, marking its largest drop since the 1970s and leading chip stocks to fall across the board. Qualcomm, AMD, Marvell Technology, and ARM all fell about 10%, Nvidia dropped 4.22%, and the Philadelphia Semiconductor Index fell 7.2% in a single day. The three major U.S. stock indices closed lower for two consecutive days, and Google also recorded its largest drop in years.
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Intel's Results Miss Expectations, Shares Tumble: Why Has the U.S. Stock Market's Tech Sector Fallen for Days?
2026-10-31 14:54:25 Source: Caixin.com Author: Yang Zirui Editor-in-Charge: Qu Yunxu
By Caixin's Yang Zirui
October 31, 2026 14:54
Intel plunged 29% in a single day, its biggest drop since the 1970s, dragging chip stocks down across the board
On October 30, affected by fourth-quarter guidance falling short of expectations, Intel plunged 29% in a single day, its biggest drop since the 1970s, and led chip stocks down across the board. Image: Visual China
English text is being prepared.
On October 30, affected by fourth-quarter guidance falling short of expectations, Intel plunged 29% in a single day, its biggest drop since the 1970s, and led chip stocks down across the board: Qualcomm, Advanced Micro Devices, Marvell Technology and ARM all fell about 10%, Nvidia also dropped 4.22%, and the Philadelphia Semiconductor Index fell 7.2% in a single day.
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