US Close 30 October 2026: S&P 500 -1.82% as Intel Falls 28.58% and Chip Stocks Drop 7%
S&P 500 close: 7,580.07 (-1.82%) Breadth: 97 advancers / 153 decliners (250 large caps swept) Sentiment: bearish
The S&P 500 closed at 7,580.07 on 30 October 2026, down 140.32 points or 1.82%, its worst session since June, as INTC.US fell 28.58% on a fourth-quarter forecast below estimates and the VanEck semiconductor fund (SMH) dropped 6.98%. Intel guided fourth-quarter revenue to $15.0 billion to $16.0 billion against a $17.1 billion LSEG consensus, and CNN reported the stock's worst day since 1974. The 10-year Treasury yield fell 6 bps to 4.93% as buyers moved into bonds, and gold futures lost 3.63% to $3,884.90.
What moved the index
The S&P 500 lost 182 bps on 30 October 2026; chips and hardware accounted for about two thirds of it, and energy, staples and health care returned about 20 bps.
- Chips and hardware (SMH -6.98%): about -120 bps. NVDA.US -4.22%, INTC.US -28.58%, AMD.US -10.88%, AVGO.US -5.48%, MU.US -5.30%, DELL.US -10.77% and QCOM.US -11.12%. Intel CEO Lip-Bu Tan said customers "began signaling a PC slowdown based on the memory prices and availability" (Yahoo Finance).
- Apple, Microsoft, Alphabet, Amazon and Meta: about -40 bps. Each fell between 1.23% and 1.55%; AMZN.US closed -1.41% at $240.35 after trading 7.14% lower before the open on its earnings miss (StockTitan).
- Software, crypto and social media: about -20 bps. ORCL.US -6.37%, PLTR.US -6.27%, DDOG.US -11.50%, COIN.US -10.62% and RDDT.US -29.22%.
- Energy, staples and health care: about +20 bps. XLE +1.91%, XLP +1.41% and XLV +0.45%; LLY.US +3.19%, WMT.US +1.86%, XOM.US +2.16% and REGN.US +13.33%.
Together, these four account for about -160 bps of the -182 bps move; industrials (XLI -1.60%) and financials (XLF -0.76%) make up most of the residual.
Session highlights
- 25,437.00 on the Nasdaq Composite, down 747.73 points or 2.86%, its worst day since 5 June. Yahoo Finance said October was the index's worst month since March 2025, while the S&P 500 fell 1.2% for the month and the Dow gained 1.5%.
- 51,770.31 on the Dow, down 572.25 points (-1.09%), and 2,811.84 on the Russell 2000 (-1.66%). The VIX rose 12.91% to 19.42.
- 0.8% rise in civilian pay and benefit costs in the three months to September, per the BLS Employment Cost Index released at 8:30am ET.
- 4.93% on the 10-year Treasury yield, down 6 bps. St. Louis Fed President Alberto Musalem and Richmond Fed President Tom Barkin both said rates need to rise to bring inflation down (Yahoo Finance).
- $76,690 on bitcoin, down 2.79%, after exchange Binance reported a hack of about $6.3 billion with about $3 billion of assets frozen (CNBC).
Sector scorecard
- Best: Energy (XLE +1.91%)
- Worst: Technology (XLK -4.89%)
- Dispersion (best minus worst): 6.80 pts
- Six of 11 SPDR sector funds rose. Communication services (XLC -1.29%) had the widest internal spread: RDDT.US -29.22% against TMUS.US +6.21% and CMCSA.US +4.27%.
Top movers
| Ticker | Move | Reason |
|---|---|---|
| CDNA.US | +22.22% | Q3 revenue up 39%; 2026 forecast raised to $520 million to $530 million |
| FDXF.US | +14.91% | Revenue up 9.2% to $3.3 billion for the four months to September |
| MEOH.US | +14.04% | Q3 net income of $265 million against a $7 million loss a year ago |
| REGN.US | +13.33% | Q3 EPS of $20.07 against $16.42 expected; revenue of $5.12 billion |
| GPN.US | +12.97% | FT reported CD&R is pursuing a buyout of the card processor |
| RDDT.US | -29.22% | Weak Q4 sales guidance; plans to test requiring log-ins to view content |
| INTC.US | -28.58% | Q4 EPS guide of $0.25 against $0.43 expected; gross margin guide 38.0% |
| ILMN.US | -18.64% | Q3 revenue of $1.13 billion missed consensus despite an EPS beat |
| RBLX.US | -18.05% | Q4 bookings guide of $1.89 billion to $2 billion, below the $2 billion expected |
| AGIO.US | -17.94% | FDA pushed its mitapivat sickle cell decision date to 1 February 2027 |
After-hours earnings
Few companies reported after the Friday close. USLM.US was 5.92% lower at 5:00pm ET after third-quarter gross profit fell 2.7% and net income slipped to $38.0 million (StockTitan).
Notable announcements
- SNDK.US: -13.47% after fiscal first-quarter adjusted EPS of $49.51 against $46.22 expected and an eight-for-one forward stock split (CNBC).
- TWLO.US: -15.24% after guiding fourth-quarter organic revenue growth to 11% to 12%, down from 16% in the third quarter (CNBC).
- AZN.US: +7.02% on core EPS of $2.79 and revenue of $16.21 billion, against expectations of $2.60 and $16.05 billion (CNBC).
- INTC.US: client computing revenue fell 5% to $8.1 billion while data center and AI revenue rose 78%; CFO David Zinsner said the PC slowdown would last "at least through the first half of next year" (StockTitan).
Next session catalysts (ET)
- Mon 2 Nov, after the close: AAPL.US results, call at 5:00pm.
- Tue 3 Nov: US midterm elections.
- Thu 5 Nov: GPN.US third-quarter results.
- Wed 9 Dec: next Fed decision.
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