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Wall Street’s Bear Market Is No Longer So Stealthy
Intel (INTC) suffered one of its worst periods to date, with a massive nosedive.
Dextape brief
A CryptoPotato report, citing the Kobeissi Letter, says selling has spread further through large technology stocks. Intel fell about 37% over three trading days and now trades roughly 57 percent under its peak. Oracle slid about 9% after unveiling a $20 billion fundraising plan using borrowing and share sales to finance AI growth, while Marvell lost nearly 13%. The Nasdaq 100 entered correction, sitting over 10 percent beneath its prior closing high. Apple stock dipped nearly 5 percent before the open on November 3 after it cautioned that pricier memory chips would squeeze margins in the holiday quarter, now projected near 45% to 46%, versus 48% previously. Most S&P 500 names still rose in that session, and uncertainty before the midterms may add pressure.
Why it matters: Coinbase is among the names cited as deep in bear-market territory, so the spreading selloff in large technology stocks matters to crypto readers tracking equity sentiment.
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Dextape context
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Terms in this story
- Bear market
- A long stretch of falling prices and gloomy sentiment, commonly described as a drop of 20% or more from a recent high.