Tech Selloff Deepens: S&P 500 Worst Week Since June, Intel Plunges 28.6%

A broad tech-led selloff hit Wall Street on Friday, with the S&P 500 falling 1.8% and the Nasdaq 2.9%, marking the third consecutive weekly decline. The drop was triggered by disappointing earnings from Intel and Amazon, with Intel's stock plummeting 28.6%, raising concerns that AI-driven valuations have become overheated. The selloff signals a potential correction in tech-heavy indices, with implications for global risk sentiment.

AI disclosure: Model-written summary of the source, not a verified fact. Check the sources. How Mosaic works