Intel and Reddit shares plummeted nearly 30%, marking a 'brutal' end to the last trading day of October in the US stock market.

The Nasdaq Composite index hit its biggest single-day drop since June on the last trading day of October, with Intel and Reddit shares falling 29% each, and SanDisk falling 13%. Major tech stocks like Microsoft, Meta, Amazon, and Alphabet have been declining this week. Capital Economics noted that over the past 12 months, the capital expenditures of the four super-large tech companies—Microsoft, Meta, Amazon, and Alphabet—have accounted for more than one-third of the total capital expenditures of the existing components of the S&P 500 index, causing investors to feel uneasy. The last trading day of October in the US stock market ended in 'brutality'.