October 21, 2026 Trader working at the New York Stock Exchange.
new york stock exchange
The Nasdaq Composite fell on Thursday as concerns over spending by artificial intelligence companies reignited, while oil prices rose on rising geopolitical tensions.
of Technology-intensive benchmarks has pulled back 1.5%, but S&P500 0.8% decrease. of Dow Jones Industrial Average was a relative performer, with a decline of only 81 points (0.2%).
meta platform Despite beating sales expectations and giving a positive outlook, the stock fell 5%. Broader technology was under pressure, and concerns about spending on artificial intelligence continued. advanced micro device While it fell more than 5%, micron technology and Nvidia They fell 2% and 1%, respectively.
Neocloud leader coreweaveBond yields and credit default swaps remain high, but have also fallen by nearly 4%. The move comes as Nvidia CEO Jensen Huang told CNBC on Thursday that demand for neocloud was “unexpected.” However, he added that a lack of capital is hampering growth.
Wells Fargo traders said in a note that Hwang’s comments about the lack of capital “have spooked the market and reignited concerns that capital markets are full on the credit side from a risk appetite perspective.” He also said Mehta’s comments about the need for huge amounts of capital for AI caused stock prices to plummet, weighing on the overall market.
Traders at JPMorgan noted that Wednesday’s bullish tone “reversed overnight” as Meta shares rose premarket and chatter increased “in response to the resurgence of Iranian dynamic risks following the US midterm elections.”
Additionally, “underlying price action and feedback from trading desks suggest that the narrative surrounding AI funding concerns and the lack of confidence and repeat earnings from the recent tech reversal remains fragile,” it said in a note to clients.
Meanwhile, oil prices soared after The New York Times reported, citing people familiar with the matter, that the United States and Israel are planning another attack on Iran after next month’s midterm elections. President Donald Trump also told reporters late Wednesday that Washington was not negotiating with the Iranian government and that something would happen “pretty soon.”
international benchmark brent crude oil futures The barrel rose 3% to trade at more than $112.45. West Texas Intermediate Crude Oil Futures It rose 2% to over $99.95 per barrel.
Investors also turned to U.S. Treasuries for a safe haven. benchmark 10 year treasury Bond yields fell more than nine basis points to 5.048%. of 2 years Bond yields also fell by 9 basis points to trade at 4.733%.
