Wall Street experienced a severe market downturn on Friday, October 30, 2026, as investor anxiety surrounding the artificial intelligence sector culminated in steep losses across major indices just ahead of Halloween.
The tech-heavy Nasdaq bore the brunt of the sell-off, plunging 2.86% in its worst single-day performance since June. The sharp drop capped a dismal month for the index, marking its weakest monthly performance since the spring of 2025, when trade tensions under Donald Trump’s administration first flared. Broader market indicators followed suit by Friday’s closing bell, with the S&P 500 falling 1.82% and the Dow Jones Industrial Average retreating by 1.09%.
Market jitters throughout the week of October 26 initially flared due to concerns over CoreWeave, a smaller data center operator whose debt levels raised investor alarm. However, the Friday session saw heavy losses hit established industry heavyweights, most notably Intel.
Intel shares suffered the largest single-day percentage decline in the company’s history, cratering by nearly 30% following the release of its quarterly financial results. The chipmaker warned of declining personal computer sales driven by surging semiconductor prices, as supply pressures intensified amid fierce competition across the artificial intelligence sector. The bleak outlook drew an immediate and punishing response from investors.
The broader market pullback also reflects heightened sensitivity regarding government involvement in the sector. In 2025, the U.S. federal government acquired a 10% equity stake in Intel under an initiative championed by Donald Trump.
