Nasdaq 100 set to lose over $2 trillion in October as Intel sinks 28.6%
The Nasdaq composite fell 2.86% Friday to close its worst month since March 2025, as AI-spending doubts and Intel's record-scale drop capped a brutal October.
More than $2 trillion in market value is set to be wiped from the Nasdaq 100 in October, Reuters reported, with the index down more than 5.8% for the month. The amount is slightly more than SpaceX’s entire market value. The Nasdaq composite fell 2.86% Friday to close at 25,437, its worst day since June. It lost about 5% for the month, its worst since March 2025, and sits 7.8% below its record high. Intel dropped 28.58%, its worst day since 1974, after a weak fourth-quarter forecast and a warning tied to PC-market weakness. Investors are questioning whether AI spending can pay off fast enough, as Meta, Alphabet and Amazon raised spending forecasts and borrowing costs rose.
| Index | Friday move |
|---|---|
| Nasdaq | -2.9% to 25,437 |
| S&P 500 | -1.8% to 7,579.97 |
| Dow | -1.1% to 51,770 |
| Watch Monday’s open for whether the tech selloff continues, and for any further signs on AI capex returns and financing costs. |
Sources
- Reuters – Nasdaq faces $2 trillion wipeout in October as AI spending fears deepen
- CNN – Nasdaq suffers worst month in over a year as AI nerves roil markets
- Investing.com – Nasdaq slides over 5% for worst month since March 2025 as AI trade suffers
- Yahoo Finance – Stock market today: Nasdaq, Dow, S&P 500 clobbered as October closes with brutal sell-off
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