The S&P 500 is on track for its most severe one day decline in over three months, featuring a rare breadth divergence with a positive advance-decline line of +150 despite falling more than 1%. Selling was initially concentrated in hyperscalers and the AI trade before expanding to the broader market and equal weight indices after 10:20 AM ET. This shift followed intensifying investor skepticism regarding whether massive spending on data center capacity will yield sufficient returns.
Friday, October 23, 2026
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US Markets Wipe Out $1.1 Trillion in Biggest One Day Loss in 3 Months
US Markets14 hours ago
The yield on the 10 year Treasury note fell to 4.996% for the first time since September 23 as investors liquidated artificial intelligence positions in a flight to safety. The Nasdaq 100 hit a session low of 2.9%, helping to drive total losses across US markets to $1.1 trillion in valuation. Nvidia, Meta, and a SpaceX-related entity were the primary drags, with those names alone erasing $440 billion, or roughly 40% of the total daily wipeout.
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