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S&P 500 Suffers Worst Day
The S&P 500 fell 1.8% on Friday, its worst daily performance since June, as a selloff in technology stocks intensified amid concerns that AI companies are overvalued. The Nasdaq dropped 2.9% and the Dow Jones fell 1.1%. Intel led the losses, plunging 30%—its steepest one-day decline since 1974—after issuing a forecast below analysts’ estimates and amid continued pressure on the personal computer sector. Shares of a technology and e-commerce company also fell 2.1% after it reported quarterly earnings below expectations.
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