Tech sell-off: Nasdaq −2.1%, its worst week since June
The Nasdaq fell 2.1% on Friday and 4.5% for the week. The S&P 500 lost 1.1% and the Dow 0.3%. Chipmakers slumped, while Brent crude neared $110 on attacks in the Strait of Hormuz.
Friday, 16 October: US stocks closed lower. The S&P 500 fell 84.62 points (−1.1%) to 7,659.44. The tech-heavy Nasdaq Composite lost 572.99 points (−2.1%) to 26,140.03. The Dow Jones slipped 175.28 points (−0.3%) to 52,002.41, and the Russell 2000 (smaller firms) fell 1.7% to 2,721.37. The VIX "fear gauge" jumped 21% to almost 20 points (AP, Yahoo Finance).
For the week, the Nasdaq is down 4.5%, its first weekly loss in five weeks and its worst since late June. The S&P 500 lost 1.9% and the Russell 2000 3%, while the Dow gained 0.7%. Energy stocks held up better than most of the market. Since the start of the year the S&P 500 is still up 11.9% (AP).
Almost all tech stocks in the S&P 500 fell – only 7 of 75 closed higher. AMD dropped 6%, Intel 5.8%, Micron 5.6%, Broadcom 4.5% and Meta 3.7%. CoreWeave plunged about 12% and Moderna about 9%. Netflix lost 2.9% after replacing its chief content officer and announcing cuts of about 6% of its workforce. Investors are asking how long the artificial-intelligence spending boom can last and whether companies can keep borrowing so heavily while interest rates are high. Chevron (+2.6%) and Exxon (+2.5%) rose (AP, Yahoo Finance).
Brent crude rose 3.7% to $109.86 a barrel, briefly touching $110, its highest level since May, after new attacks on ships in the Strait of Hormuz. US crude (WTI) climbed 3.5% to $101.41 and gained more than 10% over the week. The 10-year Treasury yield eased to 5.09%. Fed Chair Kevin Warsh left open whether rates will rise this month: "I don't prejudge meetings" (AP, Reuters/EnergyNow, Yahoo Finance).
| Index | Close | Change (points) | Day % | Week % |
|---|---|---|---|---|
| Dow Jones | 52,002.41 | −175.28 | −0.34 % | +0.67 % |
| S&P 500 | 7,659.44 | −84.62 | −1.09 % | −1.95 % |
| Nasdaq Composite | 26,140.03 | −572.99 | −2.14 % | −4.48 % |
| Russell 2000 | 2,721.37 | −45.90 | −1.66 % | −3.05 % |
| Stock | Day % | Reason |
|---|---|---|
| Chevron | +2.60 % | Higher oil price |
| Exxon Mobil | +2.50 % | Higher oil price |
| Travelers | +1.50 % | Earnings beat |
| Netflix | −2.86 % | New content chief, job cuts |
| Meta | −3.72 % | Tech sell-off |
| Broadcom | −4.50 % | Chipmaker weakness |
| Intel | −5.80 % | Chipmaker weakness |
| AMD | −6.00 % | Chipmaker weakness |
| Moderna | −9.00 % | Ahead of Phase 3 trial data |
| CoreWeave | −11.91 % | Worries about heavy debt |
| Indicator | Value | Day % | Week % |
|---|---|---|---|
| Brent crude, Dec (USD/barrel) | 109.86 | +3.72 % | +4.91 % |
| WTI crude, Nov (USD/barrel) | 101.41 | +3.51 % | +10.41 % |
| Gold, Dec futures (USD/oz) | 4,181.10 | +0.26 % | – |
| 10-year US Treasury yield (%) | 5.09 | – | – |
| Euro in dollars (EUR/USD) | 1.12 | – | – |
| VIX fear gauge | 19.99 | +21.45 % | – |
For information only, not investment advice. Prices as of the time stated, not real-time quotes.
Sources
- AP via ABC News: How major US stock indexes fared Friday 10/16/2026 (Schluss, Woche, Jahr)
- AP (Alex Veiga) via BNN Bloomberg: U.S. stocks weighed down by extended tech sell-off (16.10.2026, 16:47 ET)
- Newser/AP: Stocks Close Worst Week Since June (16.10.2026)
- Yahoo Finance Live: Dow, S&P 500, Nasdaq sink as tech sell-off caps volatile week (16.10.2026)
- TheStreet: Stock Market Today (Oct. 16, 2026) – AI 'bubble' worries mount
- EnergyNow: Oil surges as Middle East supply fears push Brent near $110 and WTI above $100 (16.10.2026, Settlements)
- TokenPost: Brent Crude Settles at $109.86 as WTI Closes Above $100 (16.10.2026)
- Investrade: Market Review October 16, 2026 (Gold, Renditen, EUR/USD)
