Intel and Reddit each lost 29% in the technology sector’s worst session on Wall Street, while the Nasdaq recorded its steepest decline since June. Intel disappointed despite reporting quarterly revenue growth of 21%, issuing forecasts below expectations and warning of falling PC shipments and factory damage that will reduce sales by $300 million. Reddit collapsed after its chief executive disclosed that weekly referrals from Google had fallen by more than one million because of AI-generated answers. The Nasdaq Composite dropped 7.8% from its closing record, but Apple reclaimed the top market capitalization spot ahead of Nvidia. OpenAI also raised less than half of the $30 billion it had targeted.
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