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Market Commentary - Foreign Markets
Wall Street tumbles, Nasdaq at five week low
23-Oct-2026, 11:30
US equities experienced a sharp decline on Thursday, fueled by escalating apprehensions regarding the capital expenditure of artificial intelligence firms. Global equity markets registered substantial selling pressure as crude oil prices advanced amid heightened geopolitical tensions.
US equities experienced a sharp decline on Thursday, fueled by escalating apprehensions regarding the capital expenditure of artificial intelligence firms. Global equity markets registered substantial selling pressure as crude oil prices advanced amid heightened geopolitical tensions.
The Nasdaq Composite declined 2.6% to 26,008.86, as the S&P 500 decreased 1.21% to settle at 7,663.43. The technology-centric index registered its most significant single-day decline since June, while the S&P 500 recorded its worst daily performance since July. The Dow Jones Industrial Average, however, advanced 11.89 points, equating to a 0.02% increase, to conclude at 52,867.98. A substantial correction has impacted technology equities in recent days, positioning the Nasdaq composite at a five-week trough.