---
format: "aidr-story-markdown/v1"
id: "508130bb526dc61d6263d96b82d9cc3a478c3b60dcef1cae775f847a7f8fd576"
canonical_url: "https://aidr.today/508130bb?lang=en"
title: "Nasdaq 100 Enters Correction as AI Rout Sends Intel and Reddit Down 29%"
lang: "en"
requested_lang: "en"
available_langs: ["en","vi"]
translation_fallback: null
fallback_fields: []
published_at: "2026-10-31T11:21:58.000Z"
category: "Industry"
topics: ["intel"]
source_urls: ["https://marketbrief.now/us-markets/nasdaq-100-enters-correction-as-ai-rout-sends-intel-and-reddit-down-29pe-a4dd5758","https://x.com/Kalshi_Finance/status/2116273941920759835","https://x.com/Kalshi_Finance/status/2116323304613036036","https://x.com/awealthofcs/status/2115803766314397961","https://x.com/howardlindzon/status/2116232269807673450","https://x.com/MgnStnlyDerivs/status/2116246769960911083","https://x.com/JaredKubin/status/2116488530733994008","https://x.com/philippilk/status/2116252797712904622"]
summary: "The Nasdaq 100 closed in a correction, down 10% from its October 6 peak and more than 7% for its worst month since March 2025, as a tech rout wiped nearly $2 trillion from US stocks. Intel fell about 29% after guiding fourth quarter revenue to $15B to $16B against $17.1B expected, while Reddit dropped 29% on weak guidance, a new login requirement, and a CEO warning that Google's AI Mode could cut daily users by a low double digit percentage this quarter. Global hedge funds cut long and short positions by more than 8% of total gross exposure since June, the largest unwind since at least 2017, while tech suffered $11B in outflows led by $5B from Nvidia and $3.6B from Alphab."
---

# Nasdaq 100 Enters Correction as AI Rout Sends Intel and Reddit Down 29%

> [Open the canonical story](<https://aidr.today/508130bb?lang=en>)

**Published:** 2026-10-31T11:21:58.000Z
**Category:** Industry
**Topics:** intel

## Summary

The Nasdaq 100 closed in a correction, down 10% from its October 6 peak and more than 7% for its worst month since March 2025, as a tech rout wiped nearly $2 trillion from US stocks\. Intel fell about 29% after guiding fourth quarter revenue to $15B to $16B against $17\.1B expected, while Reddit dropped 29% on weak guidance, a new login requirement, and a CEO warning that Google's AI Mode could cut daily users by a low double digit percentage this quarter\. Global hedge funds cut long and short positions by more than 8% of total gross exposure since June, the largest unwind since at least 2017, while tech suffered $11B in outflows led by $5B from Nvidia and $3\.6B from Alphab\.

## Sources

- [Story source](<https://marketbrief.now/us-markets/nasdaq-100-enters-correction-as-ai-rout-sends-intel-and-reddit-down-29pe-a4dd5758>)
- [Story source](<https://x.com/Kalshi_Finance/status/2116273941920759835>)
- [Story source](<https://x.com/Kalshi_Finance/status/2116323304613036036>)
- [Supporting source](<https://x.com/awealthofcs/status/2115803766314397961>)
- [Supporting source](<https://x.com/howardlindzon/status/2116232269807673450>)
- [Supporting source](<https://x.com/MgnStnlyDerivs/status/2116246769960911083>)
- [Supporting source](<https://x.com/JaredKubin/status/2116488530733994008>)
- [Supporting source](<https://x.com/philippilk/status/2116252797712904622>)