U.S. stocks fell Friday as disappointing results from Intel and Amazon intensified concerns about AI spending. The Nasdaq dropped about 2.9%, while technology stocks fell more than 4% and energy and consumer staples gained more than 1%.
The Nasdaq fell to a three-month low on Friday, down about 2.9%, as disappointing results from Intel and Amazon intensified concerns about the sums being invested in AI and when those investments might pay off. The Nasdaq and S&P 500 had their biggest daily declines since early June, while the S&P 500 technology sector fell more than 4%.
Semiconductor stocks dropped more than 7%, their biggest daily percentage decline since late June. A majority of S&P 500 sectors finished higher, led by energy and consumer staples, which each gained more than 1%; energy and healthcare closed at fresh record highs.
All three major indexes fell for the week. For October, the Nasdaq recorded its biggest monthly decline since March 2025, while the Dow ended higher; the Dividend Aristocrats ETF posted its biggest monthly gain since October 2022. The 10-year Treasury yield fell nearly 37 basis points during the month, its largest monthly decline since December 2023.
