The Nasdaq Composite (QQQ) is down 6.96% from its 52-week high and fell 5.52% last week, short of the 10% decline that defines a technical correction. The article argues that high oil prices, with September CPI and PPI both rising, will keep inflation elevated while Iran controls traffic through the Strait of Hormuz. Beaten-down AI infrastructure names fell sharply, with CoreWeave (CRWV) down 25.21% last week as short sellers held a 17% short float and bet that its $50 billion debt load is unsustainable, and Nebius (NBIS) dropped 25%. In software, Twilio (TWLO) fell 15.6%, while Autodesk (ADSK), Salesforce (CRM) and Adobe Systems (ADBE) saw buying. The article expects volatility may ease after the mid-term elections.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Baystreet . ca - When Might October Nasdaq Correction End ?
Read the original on baystreet.ca ↗
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QQQoil pricesinflationCoreWeave
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Related tickers and likely impact
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/16/2026 | 709.82 |
| Change that session | -2.50% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/16/2026 | 763.31 |
| Change that session | -1.10% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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