Stock market today: Nasdaq, S&P 500, Dow fall as tech stocks slide, oil climbs to $110
Wall Street traded sharply lower as a major pullback in technology stocks weighed heavily on the broader indices, capping off a volatile week. The Nasdaq sank more than two percent amid growing investor questions concerning artificial intelligence debt and a tech sell-off. Meanwhile, oil prices remained elevated near $110 as global supplies faced continued pressure and the United States and Iran failed to reach an agreement to end the war. While some reports noted that gains in banks offset artificial intelligence jitters for the S&P 500, futures generally pointed toward weekly losses for major indexes.
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- ✓ Wall Street traded sharply lower as a pullback in technology stocks weighed on the broader market.
- ✓ The Nasdaq sank more than two percent as investors raised questions about artificial intelligence debt.
What changed
Major technology stocks led a sharp market pullback, pushing the Nasdaq down more than two percent.
Live updates
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US Stocks Fall as Tech Sell-Off and Elevated Oil Pressures Market
Wall Street traded sharply lower as a major pullback in technology stocks weighed heavily on the broader indices, capping off a volatile week. The Nasdaq sank more than two percent amid growing investor questions concerning artificial intelligence debt and a tech sell-off. Meanwhile, oil prices remained elevated near $110 as global supplies faced continued pressure and the United States and Iran failed to reach an agreement to end the war. While some reports noted that gains in banks offset artificial intelligence jitters for the S&P 500, futures generally pointed toward weekly losses for major indexes.
Why it matters
Major stock indexes experienced high volatility driven by a sharp retreat in technology shares following a steep drop for the Nasdaq. Investors digested ongoing concerns regarding artificial intelligence financing and debt. At the same time, geopolitical tensions and the lack of a deal between the United States and Iran continued to restrict oil supplies, keeping crude prices high and adding macro-economic pressure.
What is confirmed
- Wall Street traded sharply lower as a pullback in technology stocks weighed on the broader market.
- The Nasdaq sank more than two percent as investors raised questions about artificial intelligence debt.
Still unconfirmed
- Oil climbs to $110 as global supplies face continued pressure and the United States and Iran have yet to reach an agreement to end the war.
What to watch next
- Developments in United States and Iran negotiations regarding the war and oil supplies.
- Further earnings reports and macroeconomic data releases as the third quarter earnings season progresses.
confidence 90%Sources used for this update (14)
- www.investors.com — Stock Market Today: Stock Market News And Analysis
- www.wellsfargoadvisors.com — Stock Market News | Wells Fargo Investment Institute
- economictimes.indiatimes.com — Dow Jones
- bullstory.io — US Stock Market Today: S&P 500, Nasdaq and Dow | Bullstory
- CNBC — S&P 500 futures are little changed as index heads for losing week: Live updates
- WSJ — Stock Market Today: Markets Steady After Tech Selloff
- finance.yahoo.com — Stock market today: Dow, S&P 500, Nasdaq futures mixed amid ...
- Yahoo Finance — Stock market today: Dow, S&P 500, Nasdaq mixed amid volatile week
- Reuters — S&P 500 subdued as gains in banks offset AI jitters; Dow at one-month high
- economictimes.indiatimes.com — Dow Jones| Nasdaq | US Stock Market Today | Live: Nasdaq ...
- CNN — Nasdaq sinks more than 2% as investors raise questions about AI debt
- finance.yahoo.com — Stock market today: Tech sell-off weighs on stocks to end volatile week
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