US Equities Suffer Intraday Plunge on Tech Sell-Off Triggered by Amazon and Intel Earnings

Yahoo Finance ·

Major United States benchmark equity indexes experienced sharp intraday declines on Friday, October 30, 2026, as a heavy sell-off swept across the technology sector following the latest corporate financial reports from Amazon and Intel. Market data showed Alphabet (GOOG) dropping 2.12 percent, while Amazon (AMZN) retreated 1.90 percent. In a dramatic move, Intel (INTC) shares plummeted by 30.71 percent. Meanwhile, the broader market indices also reflected severe downward pressure, with the S&P 500 (^GSPC) tumbling 2.09 percent and the tech-heavy Nasdaq Composite (^IXIC) plunging 3.33 percent by mid-session trading.

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U.S. benchmark stock indices experienced sharp intraday declines as technology-led selling pressure emerged in the wake of disappointing earnings from Amazon and Intel. Intel's stock plummeted by 30.71%, while the S&P 500 dropped 2.09% and the Nasdaq fell 3.33%, with major tech stocks driving the downward pressure on the market. Investors should focus on risk management, remaining cautious of valuation burdens stemming from earnings shocks and weakened guidance from major tech companies.

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The sharp declines in major big tech stocks such as Intel (-30.71%), Amazon (-1.90%), and Google (-2.12%) rapidly dampened overall market sentiment and accelerated risk-off behavior. If the poor earnings prove not to be a one-off issue and instead spread concerns over slowing profit growth across the entire tech sector, further valuation adjustments will be inevitable.

Future stock price trends will depend on earnings improvement signals from major tech companies and the recovery pace of semiconductor demand. The bullish scenario is the inflow of bargain hunting driven by the perception that earnings have bottomed out, while the bearish scenario can be summarized as further downward earnings revisions and intensified contraction of tech valuation multiples.

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