Intel (NASDAQ:INTC) stock fell 8.1% on Thursday, Oct. 22, as rising oil prices and concerns about AI spending drag on chip stocks. Brent crude topped $112 a barrel following attacks in Saudi Arabia. The S&P 500 and the Nasdaq Composite dropped 1.2% and 2.6%, respectively. The renewed threat to Middle East energy supplies is once again weighing on the AI trade, fueling concerns that inflation and borrowing costs will remain higher for longer.
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