Wall Street closes sharply lower dragged down by technology conglomerates

The New York Stock Exchange closed sharply lower, driven by declines in tech stocks following disappointing earnings from Amazon and Intel. The Nasdaq fell 2.86%, marking an over 8% drop for October, while the S&P 500 and Dow Jones also declined. Investors are increasingly concerned about the profitability of AI investments, as companies like Amazon reported lower-than-expected revenues and profits. Intel's stock plummeted 28.58% after forecasting disappointing sales, impacting the semiconductor sector. Meanwhile, oil companies like Chevron and ExxonMobil saw gains amid the market downturn.