Tech selloff drags U.S. markets down; Amazon and Intel lead declines

A tech stock selloff drove U.S. markets down Friday, with Amazon and Intel leading declines and erasing October gains for the S&P 500, which fell 1.2 percent. The Nasdaq composite dropped 2.2 percent, while the Dow fell a modest 162 points. Amazon slid nearly seven percent on a cautious holiday forecast, and Intel slumped over 25 percent on weak PC demand. Treasury yields sank as investors sought safer assets. Bitcoin fell about three percent to $77,695 after a $6.36 billion hack at Binance. Alphabet shares had plunged over 12 percent Thursday on weak growth. Oil prices rose amid Strait of Hormuz shipping attacks, while European markets were mixed and Asian markets mostly lower.