Why Intel Stock Is Falling Today
Intel shares tumbled Tuesday as the ongoing Iran conflict continues to rattle markets.
Overview
Intel Corp. (NASDAQ: INTC) stock is down on Tuesday, falling 7.1% as of 1:47 p.m. ET. The S&P 500 and the Nasdaq Composite are down 0.6% and 1.2%, respectively.
With no clear end to the Iran war in sight, traders appear wary of capital-intensive growth stocks trading at rich multiples -- like Intel's.
Details
On Tuesday, President Trump said that no active negotiations were underway with Iran, a reversal of his prior claims that they were. The President said on the social media platform Truth Social that "There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran."
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.