Quick Read
-
Intel cratered 28.6% after guiding Q4 revenue to a range of $15 billion to $16 billion, below what it just reported, briefly pulling QQQ into correction territory intraday.
-
Apple surpassed NVIDIA as the most valuable company at $5 trillion while Amazon CEO Andy Jassy pledged roughly $220 billion in 2026 capital spending.
-
Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and NVIDIA didn’t make the cut. Enter your email to see the names that beat NVDA. The report is free. Enter your email and see if any of your stocks made the cut.
The Nasdaq-100 spent part of Friday, October 30, 2026, below the line that defines a correction, then climbed back above it before the close. It fell 3.46% to close at 28,384.85, after reaching an intraday low of 28,093.24.
That low sat 10.0% below the October 6 record close of 31,224.47. A correction means a 10% drop from a record, so the index crossed that line during the session. It closed 9.1% below the record, which means it never finished a day in correction.
Invesco QQQ Trust (NASDAQ:QQQ) closed at $690.49, down 3.47%. The Nasdaq Composite fell 2.86% to 25,437.00, its lowest close since July 31.
The selling started in chips. Shares of Intel (NASDAQ:INTC) fell 28.6% after it guided fourth-quarter revenue to $15 billion to $16 billion, below the $16.5 billion it had just reported. Joe Tigay, a portfolio manager at Equity Armor Investments, said, “We’re moving out of the hopes and dreams phase of the AI trade and into the ‘show me’ phase.”
Why the Close Matters More Than the Intraday Low
The correction label is based on closing prices, and buyers came in before the close and raised the index back above the line. Volatility followed the same path. The VIX, which measures how much investors expect the S&P 500 to swing, hit 23.93 during the session but closed at 19.41, up 12.91%.
——
Free Report, Just Released
Why Didn’t NVDA Make The Top 10 List?
24/7 Wall St has helped investors make money for over two decades, and our top analysts just finished ranking the definitive Top 10 Stocks To Buy Now. Not the ten biggest companies. Not the ten everyone is arguing about. The ten best stocks to buy right now.
And NVDA didn’t make the cut!
The report is free, and you can see why we think each stock is a top investment today.
Enter Your Email and See the Ten →
——
That pullback in the VIX suggests investors were marking chip stocks down to new prices and that the forced selling had eased by the close. In a deeper panic, the VIX would likely stay closer to its highs into the final bell.
