Nasdaq Ends October at 25,437 After 2.86% Drop; Apple, AMD…
By Abdelaziz Fathi
AI summary of the source article
The Nasdaq Composite dropped 2.86% to 25,437.00 on October 30, driven by sharp declines in technology shares following disappointing corporate forecasts from Intel and Reddit.
Key facts
- The Nasdaq Composite dropped 2.86% to finish October down more than 5% for the month.
- Intel shares fell 28.58% after issuing fourth-quarter revenue guidance of $15 billion to $16 billion, below analyst expectations of $17.1 billion.
- Reddit shares declined 29.22% as its fourth-quarter outlook fell short of expectations amid reduced search referrals.
Source excerpt · FinanceFeeds
The Nasdaq Composite ended October at 25,437.00 on Friday, October 30, falling 747.73 points, or 2.86%, as disappointing corporate outlooks and renewed concerns about artificial intelligence spending weighed on technology shares. The decline marked the index's worst trading day since June 5, according to Yahoo Finance, and left the Nasdaq down more than 5% for October. The S&P 500 closed at 7,580.…