# Nasdaq Falls 2.86% as U.S. Markets Enter Election and Earnings Week

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/46049
Published: 2026-11-02T01:20:04.000Z
Updated: 2026-11-02T01:20:04.000Z
Section: Investing

> Intel shares fell about 29% Friday after its fourth-quarter revenue outlook came in below estimates. Bitcoin traded at $78,383 at 8:18 p.m. ET Sunday, Nov. 1 (01:18 UTC Monday).

U.S. stocks fell for a third straight week as the Nasdaq Composite dropped 2.86% Friday, leaving investors focused on midterm elections and major technology earnings this week.

The Nasdaq's decline was its largest one-day drop since June. The S&P 500 fell 1.82% Friday, and the Dow Jones Industrial Average lost 1.09%. For the week, the S&P 500 declined 0.58%, the Nasdaq fell 2% and the Dow dropped 0.85%. All three indexes recorded a third consecutive weekly loss, their longest such streak since March. The Philadelphia Semiconductor Index lost more than 7.2% Friday and fell more than 15.3% in October.

Intel shares fell about 29% Friday, their steepest one-day decline since 1974. The company reported third-quarter revenue of $16.51 billion, up 21% year over year, and earnings of 52 cents per share. Data center revenue rose 78% year over year. Intel projected fourth-quarter revenue of $15 billion to $16 billion, below estimates near $17 billion, and said it expected PC shipments to fall 25% to 30% from the prior quarter.

Bitcoin (BTC) traded at $78,383 at 8:18 p.m. ET Sunday, Nov. 1 (01:18 UTC Monday).

Apple and Palantir are scheduled to release results after the U.S. market closes Monday, Nov. 2. Voters will decide all 435 House seats and 35 Senate seats Tuesday, Nov. 3. AMD is scheduled to report after the market closes that day, while Qualcomm, Arm and Arista Networks are set to report Wednesday and Thursday.

The October U.S. employment report is due Friday, Nov. 6, at 8:30 a.m. ET (13:30 UTC). September payrolls increased by 29,000, and the three-month average was about 50,000. The Institute for Supply Management (ISM) manufacturing survey is scheduled for Monday, with its services survey due Wednesday. The September manufacturing PMI was 54.5, while its prices-paid index was 77.9.