Nasdaq Composite Drops 3% Amid Technology Sector Sell-off
The Nasdaq Composite experienced a significant decline of 3% on Friday, marking one of its worst single-day performances since June. The downturn was primarily driven by a broad sell-off in the technology sector as investors rotated out of high-growth tech positions. A major catalyst for the rout was Intel's disappointing third-quarter earnings report, which triggered a wider liquidation of semiconductor stocks. This shift in investor sentiment has put intense pressure on tech-heavy indices as market participants move away from chipmakers.