Intel plummets 29% with weak outlook and Nasdaq 100 has worst month since March 2025

American stocks closed October in the red and pressured by technology. According to Bloomberg Television, the Nasdaq 100 fell about 3.5% for the month, on track for its worst monthly performance since March 2025, and Intel led the losses by plummeting about 29%, its worst drop in history in more than 40 years of Bloomberg data.

On the day, the Dow Jones dropped around 600 points (approximately 1%), but still closed the month with an increase of around 1.7%. The S&P 500 lost around 140 points, around 1.8% in the session, and accumulated a slight drop of around 1% in October. The Nasdaq Composite and Nasdaq 100 are down about 3% for the day, and the Nasdaq 100 is down 6.6% for the month. The Russell 2000 fell about 1.6%.

The presenters highlighted that, despite the fall, the year remains positive: the Nasdaq Composite rises more than 9.4% and the S&P 500, 10.7% in 2026. The S&P 500 is around 3% below the historic high. According to the broadcast, it was only the third session of the year in which the index fell by at least 2%, after June 5th and January 20th.

Oil and pesticides gain space

One of the points of concern mentioned in the broadcast was the rise in oil prices amid the liquidation. WTI was around US$103, with an increase of around 14% in October, and Brent was around US$118. In the opinion of one of the presenters, higher energy costs fuel inflation expectations and are the last factor the market needed.

Within the S&P 500, 229 shares rose and 274 fell, but the falls were concentrated in companies with higher market capitalization. The increases came from defensive sectors: basic consumer goods, energy, utilities and health. The S&P 500 health index is near a record and had one of its best months in years. Treasuries also returned to functioning as a safe haven, with gains for the week and month, and the TLT ETF is on track for its best month since 2025.

Intel, Reddit and crypto on the selling side

Intel fell after a much weaker outlook than expected, in part due to weakness in the PC market. Before the fall, the stock had risen almost 300% in two years and is still up more than 70% for the year. Dell also backed down. Reddit lost about 29%, its worst day since its 2024 IPO, after saying it plans to limit access to its forums. Reddit, Illumina, Twilio and SanDisk also saw double-digit declines.

In the crypto sector, Strategy fell around 8%, and Coinbase, Circle and Galaxy Digital also fell. Bitcoin fell below $77,000 for the first time in more than a month. The broadcast dealt with the hacker attack on Binance, with US$6.3 billion affected. The president classified the episode as an attack and pointed to North Korea, which the presenters asked to be viewed with caution. The Department of Justice said it was working with Binance to get to the source. For one of the commentators, it caught his attention that Bitcoin only fell by around 3%.

Who rose and what lies ahead

Among the positive highlights, Rivian advanced more than 6% after a smaller-than-expected loss and revenue 38% above projections, with the R2 SUV as the best-selling model in its first full quarter. Chipotle rose 1.9% on better-than-expected sales in the third quarter and projects 2% higher prices for the year. Intercontinental Exchange, controller of the New York Stock Exchange, accumulated an increase of more than 9% in two days, the best performance since March 2020.

Attention now turns to Apple's results next week. According to the broadcast, the stock rose 27% in the year to the previous close and was one of the least affected among large technology companies, as it did not invest heavily in AI infrastructure. The question left up in the air by the presenters is whether the market will continue with a defensive bias or whether investors will return to buying technology dips.

Automatically translated from Portuguese.