Wall Street’s Bear Market Is No Longer So Stealthy

Intel (INTC) suffered one of its worst periods to date, with a massive nosedive. Wall Street’s internal damage is getting harder to ignore. Just days after data showed that more than 60% of S&P 500 stocks were already in bear-market territory, another wave of selling has hit major tech names, with Intel extending a historic collapse and Apple now joining the ride south. Wall Street Situation Worsens CryptoPotato reported over the weekend that the percentage of S&P 500 companies down by over 20% from their respective highs has risen past 60%, even as the headline index remained relatively close to record territory. At that point, AppLovin, Coinbase, CoreWeave, Intel, Oracle, Alphabet, Meta, and Amazon were already among the large-cap entities deep in what the analysts at the Kobeissi Letter consider bear-market territory. The latest damage has been particularly brutal in semiconductors and AI-related stocks, as Kobeissi updated. They highlighted Intel’s continued collapse on November 2, with its stock tumbling nearly 10% during the session after plunging almost 30% on Friday. That left INTC down by 37% in just three trading days, and around 57% below its recent record high. ...