Intel stock on track for lowest closing price in six years

Intel Corp.
INTC,
-2.75%
stock was heading for its lowest closing price in six years Tuesday as tech stocks underperformed the broader market. Intel shares declined as much as 2.7% for an intraday low of $30.39. A close at that price would be the stock’s lowest closing price since May 23, 2016, when they finished at $30.23, according to Dow Jones data. The stock is also down 12.4% after seven sessions of declines in a row, and is on track to match its longest losing streak since July 31, 2020, when shares fell seven sessions in a row. Intel’s stock hasn’t had eight days of losses in a row since May 2, 2019, according to FactSet data. Meanwhile, the PHLX Semiconductor Index
SOX,
-1.07%
was down 1%, the S&P 500 index
SPX,
-0.41%
was off 0.5%, and the tech-heavy Nasdaq Composite Index
COMP,
-0.74%
was down 0.9%.