The Fed held interest rates steady, but these officials see more hikes coming soon

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• Intel stock closed down 28.58% on Friday, its worst day since the 1970s and wiping ~$12B off US government's stake, after issuing weaker-than-expected guidance (CNBC)

  Investors aggressively dumped shares of the semiconductor giant following a disappointing financial outlook that unsettled Wall Street. This historic plunge severely penalized public holdings, erasing an estimated $12 billion from the federal government's position. The catastrophic session highlights deepening market skepticism regarding the company's turnaround timeline and near-term profitability.

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• October ends with a thud for Intel, Reddit, AI stalwarts

  Massive capital spending by major tech hyperscalers has triggered widespread market anxiety, driving the Nasdaq composite to its sharpest drop since June. Investors are growing wary as heavyweights rely more on external financing for artificial intelligence investments, prompting a broad retreat toward Treasuries. The resulting pressure pushed the Nasdaq 100 near correction territory and rattled sectors ranging from financials to commodities.

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• U.S. stocks lower at close of trade; Dow Jones Industrial Average down 1.09%

  Equities across the American market experienced a downward trajectory throughout the trading session to finish in negative territory. This broad decline reflects persistent selling pressure among major domestic shares as investors adjusted their positions before the closing bell. The downturn capped a challenging day of trade for leading blue-chip securities.

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