Intel Slump Weighs on Chips as Nasdaq Ends October Weakly

Intel suffered its steepest one-day decline in roughly forty years, falling nearly 29% and setting the tone for a difficult session across semiconductor shares. The drop weighed heavily on chip stocks and helped push the Nasdaq to its weakest day since June, capping a rough October for the technology-heavy index.

The broader market picture was mixed rather than uniformly negative. Oil prices climbed about 15% over the month, while Treasury yields moved lower. Those shifts gave investors plenty to assess as they closed out a volatile stretch for equities. The mixed signals left investors weighing momentum in energy against the pullback in technology shares.

Not every corner of the market followed the downward path. Regeneron, FedEx Freight and the major oil companies moved in the opposite direction, offering some counterweight to the weakness in chips and the Nasdaq. Their gains stood out against the broader retreat in growth-oriented names.

Intel's outsized move underscored how quickly sentiment can shift around major technology names. With October now in the rearview mirror, attention turns to whether the pressure on semiconductors will ease or continue to shape trading in the sessions ahead. For now, the market is left to digest a sharp reminder of how concentrated selling can pressure the broader tape.