Tech stocks and crypto are crashing against a perfect storm as markets head for their worst day in months

Traders are running scared this Halloween weekend as a combustible mix of market forces have sparked a selloff in major technology stocks and cryptocurrencies. 

Weak earnings reports from AI hyper-scalers including Amazon and Google, along with a historic hack on crypto exchange Binance, have left investors in high-growth assets feeling like they have nowhere to turn.

As of this writing, the tech-heavy Nasdaq Composite was down 3.3% on Friday, its worst day since June.

Intel Corporation (Nasdaq: INTC) is leading the selloff, with shares down a staggering 30% after it reported a weaker-than-expected outlook for its fourth quarter. According to CNBC, it was the tech giant’s worst day in more than 50 years.

Memory chip and semiconductor companies, including Nvidia Corporation (Nasdaq: NVDA) and Micron Technologies (Nasdaq: MU), are also taking a hit. Sandisk Corporation (Nasdaq: SNDK) shares were down more than 14% Friday as of this writing, extending losses that have seen the stock plummet more than 35% over the last month. 

This story is developing…