Intel Plunges Nearly 29%, Government Stake Drops $12B — SkimNews
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- Intel stock plunged nearly 29% in a single session, its worst day since 1974.
- S&P 500 component Intel became October's worst-performing stock in the index, with the rout wiping about $12 billion from the government's stake.
Why it matters: Intel's nearly 29% collapse, its worst day since 1974, erased about $12 billion from the government's stake and made Intel October's worst S&P 500 performer. The rout delivered a double hit — the value of a major shareholder's position and the chipmaker's relative standing in the index — in a single session.
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