Nasdaq Composite loses 600 points: Meta spending weighs at midday
Published on 10/22/2026 at 18:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAI spending and oil pressure
- At 11:41 a.m. ET on October 22, Nasdaq Composite stood at 26,103 points, down 600 points or 2.2 percent.
- Brent crude climbed to USD 112 as AI spending concerns pressured technology shares.
- Lam Research was the biggest decliner, down 10.6 percent at 11:42 a.m. ET.
- Western Digital is scheduled to report after the close at 4:00 p.m. ET on October 22.
The Nasdaq Composite stood at 26,103 points at 11:41 a.m. ET on October 22, down 600 points or 2.2 percent. Renewed AI spending doubts and Brent crude near USD 112 pressured growth stocks, Reuters reported.
From 26,703 points earlier Thursday, the index has fallen 600 points. Meta Platforms and chipmakers led the retreat as investors assessed the cost of expanding artificial intelligence infrastructure.
Why is the Nasdaq Composite down today?
Meta Platforms fell 5.7 percent at 11:42 a.m. ET. Its capital spending and contractual commitments renewed scrutiny of the cash required for AI expansion, StockTitan reported.
Brent crude climbed to USD 112 a barrel in early trading as supply disruption fears increased. Reuters said Tesla and Meta earnings also failed to ease concerns about the profitability of AI investment.
Lam Research leads Nasdaq Composite losses
Lam Research fell 10.6 percent at 11:42 a.m. ET, the largest percentage decline cited in the session. Its forecast was limited by near-term supply constraints, while Applied Materials, AMD and Intel also fell sharply, HDFC Sky reported.
Initial jobless claims fell to 194,000 for the week ended October 17, below the 200,000 consensus. The Nasdaq Composite decline was concentrated in semiconductor and other AI-linked shares.
Nasdaq Composite course and market backdrop
The index opened at 26,308 points and moved lower after the opening decline. The 10-year Treasury yield fell to 5.085 percent in early trading, while the CBOE Volatility Index rose to 18.25, according to Reuters.
What comes next for the Nasdaq Composite
- October 22, 2026, 4:00 p.m. ET: Western Digital is scheduled to release fiscal first-quarter results after the close, with adjusted earnings expected at USD 4.11 per share and revenue at USD 4.16 billion, Investopedia reports.
- October 23, 2026, 9:45 a.m. ET: S&P Global flash manufacturing and services purchasing managers' indexes are scheduled, with forecasts of 55.3 and 58.1, SPX Plays reports.
- October 23, 2026, 10:00 a.m. ET: Final consumer sentiment is scheduled, with a forecast of 46.3 versus 48.1 previously, SPX Plays reports.
Nasdaq Composite price data for October 22, 2026
The Nasdaq Composite was at 26,103 points at 11:41 a.m. ET on October 22, 2026, according to StockTitan. It was down 600 points, or 2.2 percent, from the previous close of 26,703 points.
Nasdaq Composite by the numbers on October 22, 2026
- Index: Nasdaq Composite
- Home exchange: Nasdaq, United States
- Level at 11:41 a.m. ET on October 22, 2026: 26,103 points
- Change versus previous close of October 21, 2026: down 600 points (down 2.2 percent)
- Previous close: 26,703 points
- Top loser: Lam Research down 10.6 percent
- Next scheduled event: October 22, 2026, 4:00 p.m. ET: Western Digital earnings
