October 21, 2026 Trader working at the New York Stock Exchange.
new york stock exchange
U.S. stock futures were mostly flat Thursday night after tech stocks sold off on concerns that artificial intelligence trade could weaken, at least in the short term.
futures tied to Dow Jones Industrial Average Advance by 52 points (0.1%). S&P500 futures Increased by 0.06%, Nasdaq 100 futures It fell 0.1%.
In normal transactions, S&P500 down 1.2%, Nasdaq Composite It fell by 2.6%. The market-wide benchmark had its worst trading day since July, and the tech-heavy Nasdaq had its worst trading day since June. of dow industrials stock It bucked the trend and closed slightly higher.
South Korea is the benchmark in Asia Kospi The index fell 2.42%, and Japan’s Nikkei Stock Average fell 0.49%. Australia’s S&P/ASX 200 fell 0.21%.
The U.S. tech sector fell 3% on the day as concerns over artificial intelligence spending weighed on the market. Nvidia down 4.4%, alphabet down 3.2%, advanced micro device It declined by 8.1% due to losses in various parts of the technology sector.
Nvidia CEO Jensen Huang told CNBC on Thursday that he believes the company is running out of capital to build AI.
When asked about the neo-cloud part of building AI, which has proven to be vulnerable, Huang said, “Capital is scarce. The demand for capital far exceeds the availability of capital.”
Ed Yardeni, president of Yardeni Research, described AI trading on Thursday as a “bubble,” but said some reduction in pressure isn’t all bad.
“It’s good to let the air out of the AI bubble. I don’t think there will be problems for the economy when the AI bubble bursts,” he said, citing the bond market as a source of capital competition against stocks.
Bond yields fell on Thursday. 10 year treasury It fell 18.5 basis points to 4.961% as traders bid up safe-haven assets. yield of 30 years yield fell by 15 basis points, and the two-year bond yield fell by 17.5 basis points.
Brent crude oil prices soared following reports that the United States and Israel are planning a new attack on Iran as part of a regional war that began in late February. Brent soared 4% to close at $113.17, its highest since May.
For the week, the S&P 500 is on track for a modest gain, gaining less than 0.1%, while the Nasdaq is down 0.5% during the same period. The Dow Jones Industrial Average is aiming for a 1.7% gain.
On the economic front, traders are keeping an eye on the final results of the University of Michigan’s Consumer Sentiment Report.
