The Nasdaq Composite fell 2.24% by eleven forty-nine Eastern as technology sank and defensive sectors rose.
CAMS Midday Market Check.
Thursday, October 22, 2026.
Good afternoon.
The Nasdaq Composite fell 2.24% by eleven forty-nine Eastern as technology sank and defensive sectors rose.
The S and P 500 was down 1.26%, while the Dow was down 0.21%.
The equal-weight S and P fund gained 0.23%, showing that the heaviest pressure sat in the largest growth stocks.
Five of 11 tracked sector funds were higher.
Technology fell 3.22%, and the semiconductor fund dropped 5.37%.
Consumer staples gained 2.47%, health care rose 1.45%, and utilities added 1.18%.
Reuters tied the weakness to renewed concern about A I spending and the returns on that investment.
Meta fell 5.27%, and Lam Research dropped 10.31%.
Lam's management said near-term supply constraints held back its December-quarter outlook.
The 10-year Treasury yield slipped just below 5%, while the V I X rose 12.47% to 18.76.
W T I crude gained 1.16% to $98.28 a barrel.
Brent crude rose 2.17% to $111.18 as more Houthi attacks in Saudi Arabia kept supply risk in focus.
Gold fell 2.03%, and the dollar was little changed.
The Conference Board said its leading economic index was unchanged in September.
PulteGroup gained 5.49% after reporting third-quarter results.
Valero fell 4.04% even after reporting $6.8 billion in quarterly net income.
The afternoon question is whether defensive strength and lower Treasury yields can limit the damage in technology.
Another leg lower in semiconductors would deepen the risk-off pattern.
Market analysis, not personalized investment advice.
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