Nasdaq drops 2.6% in its worst day since June as AI spending spooks investors

According to Nasdaq, the Nasdaq Composite closed on Thursday at 26,008.86, 694 points below Wednesday. A 2.6% drop is the index's biggest one-day fall since 5 June, when it lost 4.2%.

Investing.com called it a classic risk-off day. Investors sold tech and communication stocks and bought defensive shares and US government bonds. The S&P 500 fell 1.2% to 7,664.99. The Dow Jones closed almost flat at 52,866.85, held up by Procter & Gamble (up 5.6% after strong results) and Lockheed Martin (up 7%).

The main trigger was Meta. It reported on Wednesday evening. Its capital spending for the quarter, meaning money for data centres and equipment, was about $35bn. It narrowed its full-year forecast to $135-145bn, raising the low end from $130bn. It also announced a new class C of non-voting shares that could help raise money for AI. Meta stock fell 7%.

Other giants building AI followed: Microsoft, Oracle, Alphabet and Amazon lost 2.2% to 4.6%. Chip stocks had their worst day since 23 June. Tesla fell 3.1%.

One thing to keep straight: these companies are not earning less. The market is nervous about how much money goes into AI and when it pays off. There have been sell-offs like this earlier this year, and the market recovered after them. But there is no guarantee.

Hechos confirmados

• On 22 October the Nasdaq Composite closed at 26,008.86, down 694 points or 2.6%.^[1][2]
• It was the index's worst one-day fall since 5 June 2026.^[1][2]
• The S&P 500 fell 1.2% to 7,664.99; the Dow Jones closed almost flat at 52,866.85.^[2]
• Meta shares fell 7%; Microsoft, Oracle, Alphabet and Amazon lost 2.2% to 4.6%.^[2]
• Meta's capital spending for the quarter was about $35bn; its full-year forecast was narrowed to $135-145bn.^[2]
• Meta announced a new class C of non-voting shares.^[2]
• Chip stocks had their worst day since 23 June.^[2]
• Procter & Gamble rose 5.6%, Lockheed Martin 7%.^[2]

Implicaciones

• ConfirmadoTech stocks are reacting most strongly to news about AI spending right now.
• Nuestra lecturaIf other giants also fail to show when the spending pays off, pressure on AI stocks may continue.
• Nuestra lecturaNasdaq and S&P 500 index funds depend heavily on a few AI companies, so they fall with them.

Todavía no se sabe

• Whether the sell-off continues on Friday.
• What other big AI companies say about spending in their results.
• When Meta shareholders vote on the new share class.

A quién afecta

USA, Worldwide. People who hold tech stocks or S&P 500 and Nasdaq index funds

Fuentes

1. Nasdaq: NASDAQ Composite Index (COMP) 22 de octubre de 2026 · oficial
2. Investing.com: Nasdaq posts worst day since June as AI financing worries batter risk sentiment 22 de octubre de 2026 · medios