Markets Midday: Tech Shares Tumble After Intel Forecast, Nasdaq At 3-Month Low, Binance Suffers Hack 10-30-2026

0:01I'm Peter Schachnow, CNBC.

0:30of investor disappointment over a softer than expected forecast. Intel is seeing a slump in its PC business while having trouble ramping up production for data center chips. What 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.

1:04That's Vivek Ari, a semiconductor analyst at Bank of America Securities. Binance CEO Richard Tang says investors should be able to resume withdrawals from the cryptocurrency exchange by sometime Sunday after they were suspended due to a$6.3 billion hacking incident. Tang told CNBC's Mackenzie Sequelos that a compromised employee laptop was first suspected, but that the investigation has expanded beyond that. The Binance chief reiterating that the attackers found a way to get access to its hot wallet to approve transactions without going through the company's normal security checks. But importantly, Binance really reiterating the fact that the hackers did not steal the wallet's private keys.

1:42And we heard from the FBI telling CNBC in a statement that it's aware of the incident. It is engaged with relevant public and private partners to understand the scope of the activity and that it's coordinating the appropriate investigative steps. Following that Binance hack, Bitcoin is down 4 % today, while crypto exchange operator Coinbase is off by 13%, and trading platform Robinhood stock is sliding more than 8%. Peter Schachnow, CNBC. Hey, Fidelity. What's it cost to invest with the Fidelity app? Start with as little as$1 with no account fees or trade commissions on U.S. stocks and ETFs. Hmm, that's music to my ears.

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