The semiconductor sector experienced a significant sell-off, with the SOXX ETF down over 10%, after Intel (INTC) reported disappointing third-quarter earnings and issued a weak fourth-quarter revenue forecast that fell more than $1 billion short of market expectations. Intel's warning about a slowdown in personal computer sales, attributed to high memory-chip prices, triggered a broad decline across the industry. The negative sentiment was compounded by Amazon's earnings miss, which fueled concerns about the pace of spending on artificial intelligence infrastructure.