Intel stock plunges about 30%, Amazon slips as Nasdaq 100 faces loss of over $1.5 trillion

What happened: Intel's fourth-quarter forecast and Amazon's AI spending plans weighed on tech stocks, and the S&P 500 fell more than 2.3%. Key numbers: Intel stock plunged about 30%. The Nasdaq 100 faced a loss of over $1.5 trillion. The S&P 500 fell more than 2.3%. Why it matters: The declines hit tech stocks broadly, with Intel's forecast and Amazon's AI spending plans cited as the factors weighing on the sector. Coverage: 4 outlets in 24h

Intel's fourth-quarter forecast and Amazon's AI spending plans weighed on tech stocks, and the S&P 500 fell more than 2.3%.

The declines hit tech stocks broadly, with Intel's forecast and Amazon's AI spending plans cited as the factors weighing on the sector.