Wall Street selloff deepens as AI earnings disappoint

Wall Street experienced a sharp selloff on Friday, October 30, driven by disappointing quarterly earnings from major artificial intelligence companies, with the Nasdaq falling 2.86% in its worst day since June. The Nasdaq's decline capped its worst month since spring 2025, while the S&P 500 fell 1.82% and the Dow Jones dropped 1.09%. Intel shares plunged nearly 30%, their biggest drop ever, after the chipmaker forecast lower personal computer sales due to rising semiconductor prices. The selloff followed earlier market jitters from data center firm CoreWeave's debt concerns. Intel, in which the federal government holds a 10% stake since 2025, faced immediate investor punishment over its outlook.