Nasdaq drops 2.6%, worst day since June, as AI spending fears spread
After Meta's results, Nvidia fell 4.4%, AMD 8.1% and Micron 6.3%.
The Nasdaq fell 2.6% on Oct. 22, its biggest drop since June. The S&P 500 lost 1.2% and the Dow finished flat.
| Stock | 1-day move |
|---|---|
| Meta | -6.98% |
| AMD | -8.1% |
| Micron | -6.3% |
| Nvidia | -4.4% |
- Why: Meta’s bigger spending plan revived worries about funding AI build-outs with rates near 5%.
- Contrast: The Dow and small caps held up, so the selling was concentrated in tech.
→ AI Spending Jitters and an Oil Spike: Nasdaq Slips for a Second Week