[REVISION HISTORY]

NASDAQ Composite and global tech market volatility

Updated 41 times since CLSTR started tracking revisions of this situation.

What changed

2026-10-25 15:19 UTC → 2026-10-26 01:00 UTC · added ~~removed~~

The NASDAQ Composite and broader global equity markets experienced a significant downturn in mid-October 2026, driven by growing concerns regarding the sustainability of artificial intelligence (AI) infrastructure spending. Following a severe eight-session losing streak, U.S. semiconductor stocks and major tech indices staged a recovery on October 18, bolstered by robust quarterly results from SpaceX and Super Micro Computer. By October 21, market volatility continued as global indices reacted to divergent corporate performances. SpaceX’s reported 161% year-on-year revenue increase to $14.6 billion and subsequent profitability lifted sentiment for AI and aerospace stocks. The Nasdaq Composite rose 1.05% to 26,702.86 points, while the S&P 500 gained 0.60% and the Dow Jones Industrial Average added approximately 360 points. This rally was further supported by positive sentiment surrounding NVIDIA and reports that Anthropic is preparing for a potential initial public offering. However, Tesla shares fell over 3% in after-hours trading following third-quarter capital expenditure reports, and Netflix shares fell 5% due to disappointing guidance. By October 23, market sentiment shifted back toward caution as rising AI investment costs pressured major technology companies. The Nasdaq Composite dropped 2.6% as investors questioned the long timelines required to realize returns on massive infrastructure investments. Meta Platforms saw a 7% decline following an increased annual expenditure forecast of $135 billion to $145 billion, which resulted in its first negative free cash flow in over a decade. Meta announced plans to introduce a new class of non-voting shares. Additionally, Nvidia fell 4.4%, CoreWeave shares declined 10.1%, and Lam Research fell 12%. By October 24, skepticism regarding the long-term profitability of AI investments and rising sovereign debt concerns, particularly in France, continued to exert downward pressure on global markets. ~~As of October 25, Wall Street has entered a critical third-quarter earnings week.~~

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