Intel is trading at ARS 29,420 (-10.96%) following reports of an explosion at its Kiryat Gat facility and a wider downturn in the technology sector.
- Reports linked the decline to a fire and explosion at the company's plant in Israel, which resulted in serious injuries to workers; the full operational impact is currently being assessed.
- The stock is also facing pressure from a broader semiconductor sell-off driven by hotter-than-expected inflation data and renewed concerns over potential interest rate hikes.
- Investors are increasingly wary that higher borrowing costs could limit future investment in artificial intelligence, further weighing on the sector.