Holy crap, you'd think the US stock market was hacked! Intel plunged 25% pre-market, its market capitalization shrinking by over $120 billion at one point! Today, US tech stocks were collectively slaughtered, especially Intel. Yesterday's closing market capitalization was around $484 billion, but it dropped by a quarter pre-market. Intel's third-quarter revenue was $16.5 billion, a 21% year-over-year increase, and profits even exceeded expectations, yet the stock price still crashed. Fourth-quarter revenue guidance was only $15 billion to $16 billion, far below the market expectation of $17.07 billion. The PC market downturn may continue until the first half of 2027, and the explosion at its Israeli chip factory is expected to cause approximately $600 million in revenue loss. Coupled with its aggressive expansion spending, the market simply isn't buying it. Other tech stocks didn't fare much better: Reddit fell by about 23% pre-market, Roblox fell nearly 19%, Amazon fell about 7%, and Nasdaq futures fell about 2%. The most frightening thing about this wave is that several companies actually had decent third-quarter results, but Wall Street is no longer willing to pay indefinitely for future growth.