Business · Markets · 4 hrs ago
US stocks fall as technology shares slide
US stocks ended lower, with the Nasdaq down 2.6% and the S&P 500 down 1.21%.
Technology shares led the losses as investors weighed company earnings and concerns about spending on artificial intelligence.
Tesla shares fell 3.08% after the company reported that its third-quarter net profit was down 43% from a year earlier.
Meta shares dropped 6.98% even though its third-quarter revenue and profit beat expectations, after it raised its forecast for annual investment to $135 billion to $145 billion.
Higher oil prices added pressure, with Brent crude rising above $112 a barrel amid Middle East tensions and concerns about energy supplies.
US weekly applications for unemployment benefits fell to 194,000, below market expectations, pointing to a resilient labor market.
Markets put the chance of a Fed rate hold above 90% at its meeting next week.
US stocks ended lower, led by a sharp decline in technology shares.
The S&P 500 fell 1.21% to 7,663.43, while the Nasdaq dropped 2.60% to 26,008.86.
Investors focused on company earnings, and results from Tesla and Meta renewed concerns about the technology sector.
Tesla shares fell 3.08% and Meta shares dropped 6.98%.
The Dow Jones was nearly unchanged at 52,867.98.
- Who
- US stock market investors and publicly traded companies.
- What
- US stocks fell as technology shares declined, while the Dow Jones was nearly unchanged.
- When
- At the close on October 22, 2026.
- Where
- US stock markets.
- Why
- Technology shares faced selling amid concerns about company results and spending, including investment in artificial intelligence.
This story does not have two clearly opposing sides.
Tesla and Meta released financial results, renewing concerns about the technology sector.
US stocks closed lower as technology shares came under selling pressure.
- S&P 500
- Fell 1.21% to 7,663.43
- Nasdaq
- Fell 2.60% to 26,008.86
- Dow Jones
- Closed nearly unchanged at 52,867.98
- Tesla shares
- Fell 3.08%
- Meta shares
- Fell 6.98%