The slump followed September consumer price index data that indicated inflation is nearly double the Federal Reserve's long term target, fueling expectations that the Fed may continue raising interest rates. US oil prices topped $96 per barrel during the session, and only the second day of the year saw the Nasdaq 100, Philly SOX, and S&P 500 Software group all decline by more than 2%. Investors shifted capital into defensive sectors, as health care and consumer staples both gained more than 2.2%.
Tuesday, October 20, 2026
Story
S&P 500 Ends 6 Year Stability Record in $1.1 Trillion Selloff
US Markets6 days ago
The Nasdaq 100 plunged 2% on Wednesday as a stronger than anticipated inflation report triggered a rotation away from growth stocks. The S&P 500 saw its first daily drop of 1% or more in over six years, marking its worst day since July 29 and erasing $800 billion in market capitalization. Overall, the US stock market lost $1.1 trillion in value as AI-related shares tumbled, with Dell falling 11.4%, Flex dropping 9.5% and Oracle sliding 8.9%.
Looking for more context or analysis?
Tilt chat provides reliable, tailored insights, alerts, and automations.