US stocks ended sharply lower on Friday, with the Nasdaq Composite falling 2.86% to 25,437.00 and the S&P 500 losing 1.84% to 7,578.48 in their biggest daily losses since June.
Intel shares plunged nearly 30%, wiping out over $100 billion in market value after the chipmaker issued a weaker-than-expected fourth-quarter revenue forecast of $15 billion to $16 billion.
Amazon shares fell around 2% amid investor concerns over higher capital spending for artificial intelligence infrastructure, while defensive stocks and the Cboe Volatility Index advanced.