Market Wrap: Thursday, October 22, 2026 — S&P 500, Nasdaq & Dow Jones

Today's market session was marked by a broad selloff, with the Nasdaq Composite experiencing its worst day since June, declining by 2.60%. The S&P 500 also fell, down 1.21% for the day, while the Dow Jones Industrial Average managed a modest gain of 0.02%. The uneven performance across indices suggests a mixed tone, with some sectors and stocks bucking the overall trend. The decline in the Nasdaq, which is heavily weighted towards technology stocks, was attributed to concerns over AI spending woes and rising oil prices.

The flight into treasuries, which drove yields lower, appears to be a significant macro driver behind today's selloff. The rally in bonds has sparked a sell-off in stocks, particularly in the tech sector, as investors weigh the risks and opportunities presented by the current market environment. Notable themes from the headlines include the impact of rising oil prices and the ongoing concerns over AI spending, which have contributed to the decline in tech stocks. The modest gain in the Dow Jones Industrial Average suggests that some investors are taking a more cautious approach, weighing the earnings reports from companies like Meta and Tesla, which may have influenced the market's mixed tone.