U.S. tech stocks sold off, with Intel down nearly 26% for the week and Alphabet down 12.2%.

PANews November 1 news, according to Seeking Alpha, the three major U.S. stock indices all closed lower this week, dragged down by a tech selloff: the S&P 500 fell 0.57%, the Nasdaq Composite fell 2%, and the Dow fell 0.85%. Intel's fourth-quarter revenue guidance is $15 billion to $16 billion, below expectations, and its stock fell nearly 26% cumulatively this week. Alphabet's third-quarter revenue was $127.58 billion, missing expectations, and its stock fell 12.2% for the week. ServiceNow fell nearly 27% in a single day after releasing its earnings report, and AMD fell nearly 13% on Friday. Amazon's third-quarter capital expenditures exceeded $77 billion, above expectations. The Federal Reserve kept the interest rate range unchanged at 3.75%-4.00%.