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Intel's stock plunging toward biggest one-day drop in 11 years

Tomi Kilgore

Shares of Intel Corp. plunged 9.6% in morning trade Friday, putting them in danger of the biggest one-day decline in nearly 11 years, after the chip maker provided a disappointing profit outlook, while reporting first-quarter adjusted earnings that topped expectations. The stock was the biggest decliner in the Dow Jones Industrial Average , the S&P 500 , the Nasdaq 100 Index the PHLX Semiconductor Index and the SPDR Technology Select Sector ETF . The stock was on track for the biggest one-day decline since it fell 10.1% on Sept. 29, 2008. The stock's price decline of $5.55 was shaving about 38 points off the Dow's price, which was down 43 points.