US Tech Stocks Hit by Selloff; Intel Falls Nearly 26% for the Week, Alphabet Down 12.2%

November 1: According to Seeking Alpha, all three major US stock indices closed lower this week, dragged down by a selloff in tech stocks: the S&P 500 fell 0.57%, the Nasdaq Composite fell 2%, and the Dow fell 0.85%. Intel's fourth-quarter revenue guidance of $15 billion to $16 billion came in below expectations, and its shares fell nearly 26% cumulatively this week. Alphabet's third-quarter revenue was $127.58 billion, missing expectations, and its shares fell 12.2% for the week. ServiceNow fell nearly 27% in a single day after releasing its earnings report, and AMD fell nearly 13% on Friday. Amazon's third-quarter capital expenditures exceeded $77 billion, above expectations. The Federal Reserve kept its interest rate range unchanged at 3.75%-4.00%.