Intel Plunge Deepens to Nearly 30% as Global Tech Selloff Intensifies
Intel shares dropped nearly 30%, wiping out over $110 billion in value, as tech sector declines spread across US, European, Asian, and Tel Aviv stock exchanges.
The collapse in Intel shares deepened to a plunge of nearly 30%, a drop poised to erase more than $110 billion from the chipmaker's valuation, Israeli business daily TheMarker and Hungarian news outlet Portfolio.hu reported.
According to a report by Maariv, the tech sector selloff dragged the S&P 500 down by more than 1%, alongside declines on the Tel Aviv Stock Exchange. Simultaneously, selling pressure weighed on stock markets in Europe and Asia amid mounting investor concerns regarding the financial returns on artificial intelligence investments.
Sources: מעריב — עסקים, Portfolio.hu, TheMarker
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