Intel shares plunge 29% as AI worries hit US markets

US stocks fell sharply Friday as AI-sector concerns triggered a broad selloff, with chipmaker Intel suffering a historic 29 percent share price decline. Intel's stock dropped 28.6 percent after its weak quarterly forecast missed market expectations, marking its worst trading day since its 1971 listing. High memory chip prices are hurting PC sales, a key business, with no improvement expected until mid-2027. The Nasdaq fell 2.9 percent, its worst month in over a year, while the S&P 500 dropped 1.8 percent and the Dow Jones lost 1.1 percent. The US government's 10 percent stake in Intel was also affected.