The Nasdaq-100 closed down 2.9% at 28,958.69 on October 22, losing 863.83 points as a sharp retreat in artificial intelligence stocks weighed on U.S. technology shares.
It was the index’s largest daily percentage decline since June 23, when it fell about 3.3%, according to daily data. The benchmark tracks large nonfinancial Nasdaq-listed companies and is distinct from the broader Nasdaq Composite.
Nvidia fell about 4%, Meta dropped almost 7%, and AMD lost more than 8%. Concerns over the cost and financing of AI infrastructure overshadowed strong earnings at some companies.
The Nasdaq Composite finished down 2.6% at 26,008.86, while the S&P 500 lost 1.21% to 7,663.43. The Dow rose 0.02% to 52,867.98, highlighting the uneven pressure behind the AI selloff.
Oil added another headwind: Brent settled 4% higher at $113.17 a barrel, CNBC’s market update showed. The jump raised the cost backdrop for businesses even as Treasury yields fell sharply during the session.
