---
title: "Nasdaq Tumbles Over 700 Points as Chip Stocks Fall: Investor Sentiment Weakens, Greed Index Remains in ‘Fear’ Zone"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/303932992.md"
description: "U.S. stocks fell sharply on Friday, with the Nasdaq tumbling over 700 points and the S&P 500 dropping 1.82%. The decline was driven by weak investor sentiment, reflected in the CNN Fear & Greed Index slipping to 26. Tech giants led the losses, notably Intel plunging 29% after disappointing earnings, alongside declines in Nvidia, AMD, and Micron. Conversely, energy stocks gained following reports of a tanker attack near the Strait of Hormuz."
datetime: "2026-11-02T08:55:30.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/303932992.md)
  - [en](https://longbridge.com/en/news/303932992.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/303932992.md)
generator: "portal-rs"
---

# Nasdaq Tumbles Over 700 Points as Chip Stocks Fall: Investor Sentiment Weakens, Greed Index Remains in ‘Fear’ Zone

The CNN Money Fear and Greed Index showed a decline in overall market sentiment, while the index remained in the “Fear” zone on Friday.

U.S. stocks settled lower on Friday, with the Nasdaq Composite falling more than 700 points during the session. Shares of **Intel Corp.** (NASDAQ:INTC) dipped around 29% on Friday after the company reported third-quarter financial results and issued fourth-quarter guidance below estimates.

Aside from Intel, shares of **Nvidia Corp.** (NASDAQ:NVDA), **Advanced Micro Devices Inc.** (NASDAQ:AMD) and **Micron Technology Inc.** (NASDAQ:MU) also fell during the session.

**Amazon.com Inc.** (NASDAQ:AMZN) shares fell around 1.4% after the company reported weaker-than-expected financial results for the third quarter. **ExxonMobil Holdings Corp.** (NYSE:XOM) reported better-than-expected third-quarter earnings and revenue.

Oil extended its rally after reports of a tanker attack near the Strait of Hormuz.

Major indices on Wall Street closed on a mixed note last month, with the Nasdaq dipping 5.3% and the S&P 500 falling 0.9%. However, the Dow added 1.7% in October.

On the economic data front, U.S. employment costs rose by 0.8% in the third quarter following a 0.9% rise in the previous period.

Most sectors on the S&P 500 closed on a positive note, with energy, utilities and consumer staples stocks recording the biggest gains on Friday. However, industrials and information technology stocks were among the worst performers.

The Dow Jones closed lower by around 572 points to 51,770.31 on Friday. The S&P 500 fell 1.82% to 7,580.07, while the Nasdaq Composite tumbled 2.86% at 25,437.00 during Friday’s session.

Investors are awaiting earnings results from **Apple Inc.** (NASDAQ:AAPL), **Marriott International Inc.** (NASDAQ:MAR) and **Estee Lauder Companies Inc.** (NYSE:EL) today.

## **What is CNN Business Fear & Greed Index?**

At a current reading of 26, the index remained in the “Fear” zone on Friday, versus a prior reading of 31.

The Fear & Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.

*Photo courtesy: Shutterstock*

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**