Nasdaq Falls Over Two Percent on AI
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On October twenty‑second, 2026, U.S. stocks fell, with the Nasdaq dropping two‑point‑sixty‑eight percent, the steepest decline since early June. The tech‑heavy index was weighed down by microchip earnings and fresh concerns about the AI spending race. Meta Platforms reported a cash outflow for AI, causing its shares to slide seven‑point‑five percent. Tesla cut its 2026 capital‑spending plans, sending its shares down two‑point‑one percent. The Philadelphia Semiconductor Index fell six‑point‑three percent, its largest daily drop since June twenty‑third, while crude prices hit a five‑month high amid Middle East tensions. Investors questioned the sustainability of AI investment amid political backlash and potential regulatory restrictions.
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Timeline
- On October 22 2026 Nasdaq falls two‑point‑sixty‑eight percent, steepest since early June.
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