S&P 500, Nasdaq end sharply lower as revived AI doubts ignite tech selloff
Investors sold AI-linked giants after Meta raised capital spending to $145 billion, while Nvidia and other chipmakers also fell sharply.
- On Thursday, October 22, 2026, U.S. stock indexes fell sharply as the Nasdaq composite plunged 2.6% to 2.8% and the S&P 500 dropped 1.2% to 1.4%, marking the worst day since July.
- Market unease intensified as investors questioned whether expensive AI infrastructure buildouts could generate sustainable profits, while Brent crude oil surged 3.7% to $112.80, reaching its highest level in five months on Middle East tensions.
- Tech heavyweights led declines, with Meta shares falling 7.9% amid AI spending concerns, Nvidia dropping 4.4%, and Tesla slipping 3.1% after reporting results that failed to ease investor worries.
- Investors fled to safety, pushing the 10-year Treasury yield down to 4.96% from 5.13% late Wednesday as money flowed into U.S. government bonds, reflecting heightened risk aversion in the equity market.
- Upcoming earnings from Netflix and Western Digital will test whether tech companies can sustain growth as analysts question if AI infrastructure investments justify their mounting costs amid broader market skepticism.
232 Articles
232 Articles
The tech-heavy Nasdaq100 index suffered heavy losses in Thursday's stock market trading
Worries about the future of artificial intelligence (AI) investments wiped a trillion dollars off the valuations of technology companies on Thursday. The tense economic environment is starting to weigh on even ambitious AI development plans, and the market is starting to react with extreme sensitivity to even relatively minor news.
Asian shares slip as sharp drops for AI stocks overwhelm markets worldwide and oil prices jump – WTOP News
Asian shares were mostly lower Friday after the latest shudder for artificial-intelligence stocks weighed on markets around the world, giving the benchmark S&P 500 its worst day since July. Oil prices were hovering at their highest levels since May on worries about the war with Iran, with Brent crude up 0.5% at $113.73 per barrel....
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