Intel’s shares plunge 8% as it misses on revenue and earnings and warns trouble in China could mean more pain to come

With China continuing to dominate the business fortunes of American tech companies, and soft global demand for new technology, Intel is taking it on the chin like other big-name firms of late.

We do appear to be witnessing the results of the continued shift of economic power from the U.S. to China, this century. Additionally, tech product maturity in many sectors–along with continued consumer and corporate unease in spending to replace things that seem to work well enough already (despite the bullish tendencies of the past few quarters in the financial markets)–are beating down those once-rosy revenue projections we’d been accustomed to.

The sequential sales decline from the third to the fourth quarter last year hit all of the company’s major units. Its unit that makes PC chips saw its sales fall 4% from the third quarter. Revenue at its server chip-making unit fell 1% quarter over quarter. And its group that offers products for Internet of Things manufacturers saw its sales drop 11%.