Stock Sentiment

Market Wrap: Thursday, October 29, 2026 — S&P 500, Nasdaq & Dow Jones

October 29, 2026

Market Wrap: Thursday, October 29, 2026 — S&P 500, Nasdaq & Dow Jones
Photo by Markus Winkler on Unsplash

S&P 500

7720.39

-0.30%

Nasdaq Composite

26184.72

-1.38%

Dow Jones Industrial Average

52342.56

-0.25%

Today's market session was marked by a broad selloff, with the Nasdaq Composite leading the decline, falling 1.38% and shedding 400 points. The Dow Jones Industrial Average and S&P 500 also retreated, with the Dow losing 100 points and the S&P 500 snapping its three-day advance, both down 0.25% and 0.30% respectively. The tech-heavy Nasdaq 100 fell 1.5% as AI trade showed new cracks, with Alphabet's sharp decline in revenue contributing to the sector's woes. Alphabet's stock dropped sharply after its revenue miss, with its market value poised to drop by $500 billion, the biggest in its history.

The selloff was driven by a combination of factors, including Alphabet's earnings miss and the broader tech sector's decline. The AI trade showed new cracks, with tech futures falling on four huge losers. Oil prices also fell on comments from Iran, which may have contributed to the risk-off tone in the market. Notably, the decline was uneven, with some sectors, such as tech, taking a bigger hit than others. The market's reaction to Alphabet's earnings miss and the broader implications for the tech sector will be closely watched in the coming days.