S&P 500 drops 1% as Intel and Twitter lead tech rollover

Stocks fell on Friday as poor earnings from Intel and Twitter trumped a strong growth reading for the economy. The S&P 500 fell 1 percent with tech dropping more than 2 percent. The Nasdaq Composite dropped 1.7 percent and was on pace for its worst daily performance since June 25. The Dow Jones Industrial Average declined more than 100 points. Tech stocks were heading for their second straight day of steep losses. On Thursday, the sector dropped more than 1.5 percent as Facebook posted its worst day ever. Shares of Intel and Twitter led the charge lower on Friday, falling after the release of their latest quarterly results.