S&P 500 closes 0.5 percent lower as AI trade wobbles

The S&P 500 closed at 7,624 points on October 23, down 40 points or 0.5 percent. Brent crude reached USD 116 as Middle East tensions and doubts about AI spending weighed on risk appetite.

Bloom Energy fell 11.9 percent despite raising its full-year revenue forecast, while its negative free cash flow drew selling pressure. The move added to concern about the cost of funding data-center expansion.

Why did the S&P 500 fall on Friday?

Reuters said the market was still absorbing questions about the AI trade and the level of future data-center investment. Strategist Kristina Hooper of Man Group said investors were pausing because projected AI infrastructure spending may prove too high.

Oil prices added pressure. Brent reached a five-month high of USD 116 after attacks on Saudi oil infrastructure, according to TipRanks.

S&P 500 movers split between energy and telecom

Crown Castle rose 9.4 percent after reports that SpaceX was seeking access to US cell sites for a wireless network, ChartMill reported. Bloom Energy fell 11.9 percent despite higher revenue guidance, while SLB gained 6.0 percent after beating third-quarter earnings estimates, according to 24/7 Wall St.

Energy was the strongest S&P 500 sector, gaining 2.5 percent, while consumer staples fell 1.8 percent. Most sectors declined, with financial stocks also among the weaker groups.

AI concerns end a turbulent S&P 500 week

The index finished the week 0.4 percent lower. Technology shares steadied after Thursday's selloff, but that recovery did not offset weakness in defensive and financial groups.

The S&P 500's closing decline was 40 points from its 7,663-point previous close. Virginia Business carried the Reuters closing account.

What comes next for the S&P 500

• October 26, 2026, 7:30 a.m. ET: Chicago Fed National Activity Index for September; the prior reading was minus 0.04, Investing.com reports.
• October 26, 2026, 9:30 a.m. ET: Dallas Fed manufacturing index for October; the prior reading was 9.8, Investing.com reports.
• October 28, 2026, 2:00 p.m. ET: Federal Reserve interest-rate decision, widely expected to leave rates unchanged, according to Morningstar.

S&P 500 price data for October 23, 2026

The S&P 500 closed at 7,624 points on October 23, 2026, according to Virginia Business. It lost 40 points, or 0.5 percent, from 7,663 points on October 22, 2026.

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