Dow Falls 572 Points as AI Infrastructure Stocks Slump; Intel Drops 30%

The Dow Jones Industrial Average fell for a second consecutive session on October 30, closing 572.25 points (1.09%) lower at 51,770.31, pressured by growing uncertainty over the profitability and sustainability of artificial intelligence investments. Intel shares plunged as much as 31% after its July-September earnings missed market expectations and its fourth-quarter revenue outlook fell short, with high memory prices and a weak PC market weighing on results. The selloff spread across AI infrastructure names including Nvidia, Broadcom, AMD, Micron, and semiconductor equipment makers, while the Philadelphia Semiconductor Index dropped over 9%. The decline deepened in afternoon trading, with the Dow falling nearly 780 points at one stage. Reports that Blackstone told investors Anthropic may not achieve investment-grade long-term debt ratings immediately after its IPO added to concerns about AI funding, hitting stocks like SpaceX, Oracle, and CoreWeave, while defensive names such as Merck, Walmart, and Coca-Cola rose.