Wall Street stocks fall as tech sell-off deepens; Intel plunges 29%

Wall Street stocks fell sharply on Friday, with the S&P 500 dropping 1.8 percent to 7,580.07, its worst day since June, as a sell-off in technology shares deepened on concerns that AI-driven valuations had grown too high. The Nasdaq composite fell 2.9 percent to 25,437.00, while the Dow Jones Industrial Average lost 1.1 percent to 51,770.31 and the Russell 2000 dropped 1.7 percent to 2,811.84. Intel plunged nearly 29 percent, its worst day since 1974, after issuing a weak profit forecast, and Amazon's report fueled worries about heavy AI spending. Outside tech, many stocks rallied on strong earnings, with Exxon Mobil and Chevron rising on better-than-expected profits. The S&P 500 tech sector posted its largest monthly loss since March 2025, while communication services had its biggest drop since April 2022.