Market Close: Stocks End At 3-Month Lows, Tech Earnings Disappoint, Binance Hacked 10-30-2026

0:02I'm Peter Schacknow, CNBC. The month of October is over on Wall Street, and it was not one to remember fondly. It ended with a tech-focused sell-off and the biggest one-day declines for the S &P 500 and NASDAQ in nearly four months. The Dow fell 572 points to close at 51 ,770. The S &P 500 finished 1.8 % lower, or 140 points, and the Nasdaq tumbled 2.9%, or 747 points. And both the S &P and Nasdaq closed at three-month lows. A disappointing forecast by Intel led to a nearly 29 % drop for its stock, its second worst day ever. Intel is seeing a slump in its PC business while having trouble ramping up production for data center chips.

0:46What that is doing is that is creating a squeeze on the supply that is required for other parts of the market, such as consumer PCs and smartphones. And I think that is what Intel is having to grapple with. Its data center business is doing extremely well, but parts of its business that have to deal with consumer and the PCs is not doing well. And I think that is just a tough mix for the company, which has to invest in its factories to help attract external demand over the next few years. That's Vivek Arya, Semiconductor Analyst at Bank of America Securities. Amazon disappointed investors by falling short of the so-called whisper numbers, with otherwise robust growth for its Amazon Web Services unit.

1:23The stock did trim early losses to finish lower by 1.4%. Matt Orton, chief investment strategist at Raymond James, says these results on top of other reports this week are weighing on investor sentiment. There have been some notable misses. Alphabet was a notable miss. There really wasn't anything great there except for the growth of their cloud business. You've seen some big headline software misses. There's been some semiconductor misses. And what it really comes down to is the fact that capacity is still very, very tight. But being able to build out that capacity comes at a cost. And we're starting to see that cost be manifested across the market.

2:00Cryptocurrency exchange Binance is hoping to reopen for withdrawals this weekend after shutting them down following a$6.3 billion hacking incident. The news has taken the price of Bitcoin down 5%, while cryptocurrency exchange Coinbase saw its stock slide 10.6%. Peter Schach now, CNBC. Traders don't need a prettier app. They need a better angle. Schwab's think-or-swim trading platforms were built for real traders like you. They have an insane amount of chart studies. I'm talking over 300 studies for virtually any strategy. They also have integrated risk management technology and nearly unlimited customization so you can shape the platform to fit the way you trade.

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