GoKawiilIntel shares plunge 30% in a day, cutting value of US government's stake by $11 billion
Intel stock suffered its worst one-day drop since 1974 on Friday, falling nearly 30 percent after the company's fourth-quarter revenue outlook missed Wall Street expectations despite beating Q3 earnings estimates. The slide shrank the value of the US government's 9.9 percent equity stake, acquired in August for $8.9 billion as part of a $100 billion semiconductor initiative, from almost $40 billion to under $30 billion.