Intel Shares Suffer Worst Day in Decades, Erasing $140 Billion

Intel shares posted their worst trading day in decades, a sell-off that erased about $140 billion from the chipmaker's market value. The drop puts the company's struggles in sharp focus for investors who were already watching its turnaround closely.

The pressure is coming hardest from Intel's PC business. Rising memory-chip prices are weighing on demand for laptops and desktops, and that squeeze is landing just as corporate IT teams have less money to spend on new machines. When businesses delay hardware purchases, the effect reaches the processor makers that supply those devices.

The timing is awkward for Intel. The company has been trying to rebuild momentum in its core franchise while also spending heavily on manufacturing and new products. A softer PC market makes that work harder to fund and harder to defend to shareholders in the near term.

Investors will be looking for signs in the company's next update on PC demand and outlook to judge whether the selloff reflects a temporary dip or a longer slowdown.