U.S. Stocks Tumble at October 30 Close: Dow Falls 572 Points, Nasdaq Drops 2.86% in Worst Day Since June as Intel Plunges 28.58%
U.S. stocks closed sharply lower on October 30, led by technology shares. The Dow Jones Industrial Average fell 572.25 points, or 1.09%, to 51,770.31; the S&P 500 lost 140.32 points, or 1.82%, to 7,580.07; and the Nasdaq Composite dropped 747.72 points, or 2.86%, to 25,437.00 — its worst single day since June, according to Associated Press and Reuters closing reports. The Nasdaq 100 fell 3.46% on the day and slipped into correction territory, down more than 10% from its October 6 high.
Chip stocks drove the selloff. Intel plunged 28.58% to $65.76 after issuing a weaker-than-expected fourth-quarter outlook — its worst single day since the 1970s — triggering a broad semiconductor selloff. Social platform Reddit also fell nearly 29%.
For October as a whole, the Nasdaq fell about 5.3%, its worst month since March 2025; the S&P 500 slipped about 0.9% while the Dow gained about 1.7%. Analysts attributed the pullback to investors reassessing the returns on super intelligence (SI) infrastructure spending, with semiconductor and hardware shares hit hardest.
Source: GSM · USA (original Chinese edition)
Photo: 图：纽约证券交易所大楼（资料图）。照片：颐园居，CC BY-SA 4.0，经 Wikimedia Commons。 | The New York Stock Exchange building (file photo). Photo by Yiyuanju, CC BY-SA 4.0, via Wikimedia Commons.
