Over the last year, Intel shares have rallied more than double on hopes of a turnaround for the embattled American chipmaker.

NEW YORK (AP) — Wall Street has its worst drop in a month led by losses in Nvidia and other AI stars, sending S&P 500 down 1.7%.

Industrial profits dropped 5.5% from a year earlier in October, the biggest decline since June. For the first ten months of the year, profits at major industrial firms grew 1.9% from a year ago.