The slump follows a September consumer price index of 3.7% and a PPI of 6.3%, which fueled concerns that the Federal Reserve may continue raising interest rates. This outlook pushed the 10 year Treasury yield to a monthly high of 5.34%, the highest level since 2007. Higher borrowing costs have specifically hit AI-focused firms such as CoreWeave and Nebius, as well as enterprise tech names like Dell and Oracle, due to the high capital requirements for data center expansion.
Tuesday, October 20, 2026
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Nasdaq 100 Falls 2% to hit 7% Loss in 10 Days
US Markets4 days ago
The Nasdaq 100 extended its downward trajectory on Friday, hitting a session low as US oil prices surged past $100 per barrel. The index dropped more than 2% on the day, deepening a rout that has erased 7% of its value in the last 10 days, while the S&P 500 fell 1.32%. This selling pressure wiped out roughly $1 trillion in market capitalization from US stocks since the opening bell and pushed the Fear and Greed Index into 'extreme fear' territory.
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