Stocks Slide, Intel Plunges, Binance Hacked

A facts-only brief, written by a local AI model from this article in The Wall Street Journal, October 30, 2026. It may contain mistakes, and it is not the article: the full story is at wsj.com.

Intel’s 29% stock decline triggered a broad sell-off in U.S. equities, with the Nasdaq falling 2.9% and the S&P 500 dropping 1.8%. The chipmaker cited soaring costs and weak personal computer sales as reasons for disappointing fourth-quarter revenue. Simultaneously, Binance reported that hackers stole $6.3 billion in cryptocurrency by accessing an engineer’s laptop, a breach attributed by researchers to North Korea’s TraderTraitor unit. This incident set a new record for the largest crypto heist, causing Bitcoin to drop below $77,000 and Coinbase shares to fall 12%.

Background

• Three Federal Reserve officials indicated support for raising interest rates at the central bank’s December meeting, following a decision to hold rates steady earlier in the week.
• The 10-year Treasury yield settled at 4.928%, marking a 0.364 percentage point decline in October, the largest monthly drop since December 2023.
• Reddit shares fell 29% amid renewed concerns regarding user growth, while tech stocks remained volatile following Alphabet’s earlier weak performance.
• Verizon, Welltower, and several other companies are scheduled to report quarterly earnings on Monday, alongside the release of U.S. manufacturing and construction spending data.

Read the full article at wsj.com

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