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Nasdaq Falls on Earnings
The Nasdaq fell 2.3% to 25,587 points, pressured by Amazon and Intel’s results and a selloff in technology stocks. The S&P 500 dropped 1.2%, while the Dow Jones fell 0.4%. Amazon shares slid about 2% amid slower growth in e-commerce and advertising, while Intel plunged 30% amid weak demand for PC processors and supply bottlenecks for data-center chips. The fallout from a cyberattack on Binance, which said that $6.3 billion in assets had been stolen from the platform, added to pressure on cryptocurrency stocks. Bitcoin fell 2.6% to $78,001.8.
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