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AI compiled from Infoway · 3 analyzed stories

How Stock Wipeouts for Alphabet and Intel Compare With the Top One-Day Losses — WSJ

Intel stock tumbled 29% due to a slumping PC market and was on course to erase more than $140 billion of market value. Alphabet shed nearly $500 billion in market value, the second-worst one-day loss on record for a U.S. company.

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What happened

A two-day technology stock selloff wiped out more than $600 billion in market value from Alphabet and Intel. Intel fell 29% in one day after a weak outlook, supply setbacks, and weakness in its PC business. Alphabet lost nearly $500 billion in market value in one day.

Global impact / market context

Large stock declines can reduce the value of ordinary investors’ holdings. Reports also show that borrowing to buy stocks was high: it reached $1.502 trillion in June and eased to $1.48 trillion by September. The facts do not show that this borrowing caused the selloff.

What to watch

  1. Check for new information about Intel’s outlook; it was cited as a reason for the share drop.
  2. Check for updates on Intel’s supply setbacks; they were also cited as a reason for the drop.
  3. Check for the next reported figure for borrowing to buy stocks; it matters because the reported amount was $1.48 trillion in September after reaching $1.502 trillion in June.

Affected assets

  • GOOGL
  • Intel Corporation

Evidence