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Original headline: investingLive Americas FX news wrap 21 Oct : Nasdaq leads as AI optimism offsets Gulf oil risks
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NasdaqNVDAoil pricesartificial intelligence
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Related tickers and likely impact
QQQ
▲ Likely positiveInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/21/2026 | 725.20 |
| Change that session | +1.05% |
NVDA
▲ Likely positiveNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/21/2026 | 221.97 |
| Change that session | +2.54% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Sharp drops for AI stocks overwhelm markets worldwide as oil prices jump
Sharp declines in AI stocks pulled markets lower worldwide on Thursday, while oil prices rose to their highest since May on worries about the war with Iran. The S&P 500 fell 1.2% for its worst day since July and the Nasdaq composite tumbled 2.6%, even though most U.S. stocks rose. Lam Research dropped 11.8% despite slightly stronger quarterly profit and revenue, Meta lost 7% despite revenue beating expectations, Nvidia fell 4.4%, and CoreWeave dropped 10.1% on debt worries. Asian markets also slid, with South Korea’s Kospi down 3.5%, Hong Kong’s Hang Seng down 3% and Japan’s Nikkei 225 down 2.7%, while Brent crude rose 4% to $113.17 a barrel. U.S. 10-year Treasury yields tumbled to 4.97% from 5.13% as investors sought safer government bonds.
- SOXL Sinks To 6-Month Low As Nasdaq Slides Amid Oil Surge: Trump Blames Iran, But Wells Fargo Says Huang's Comments Spooked Markets
Direxion Daily Semiconductor Bull 3X Shares (SOXL) fell over 16% to a six-month low as the Nasdaq slid and QQQ dropped over 2% amid an oil price surge. Brent crude rose 2.3% to over $111 per barrel, and U.S. President Donald Trump blamed Iran, calling the surge a purposeful ploy ahead of the midterm elections. Wells Fargo said Nvidia CEO Jensen Huang's remarks that neoclouds face a scarcity of funding, not customers, spooked markets and revived concerns about credit and risk appetite. NVDA fell 3.8%, while SMH, SOXX and DRAM dropped 4.8%, 5.5% and almost 6%, and CoreWeave (CRWV) and Iren (IREN) hit fresh lows.
- Chips lead Nasdaq lower, oil tops 5-month high: AlphaCheck
Stocks were mixed on Tuesday as chip stocks gave up the previous session's rebound while oil prices climbed. Brent crude hovered near a 5-month high at $110 per barrel and WTI traded just below $100, following Houthi rebel attacks on Saudi Arabia amid the ongoing Middle East conflict. The tech sector fell, led by Nvidia (NVDA) and AMD (AMD), while memory makers Micron (MU) and SK Hynix (SKHY) also declined as Monday's rebound in the AI trade faded. Investors focused on earnings from GM, GE Aerospace and RTX released Tuesday, with SpaceX, Tesla and Meta also expected to report later in the week.
- S & P 500 , Nasdaq rise as AI stocks rebound and oil prices ease ahead of major US company earnings this week
The S&P 500 and Nasdaq Composite rose on Monday as AI-related stocks rebounded from the prior week's sharp fall, when both indexes posted their biggest weekly declines since late June. Investors had worried that higher interest rates could make funding AI infrastructure and data centers more expensive, and lower oil prices, with Brent near $108 a barrel after a 1.3% drop, added support. Chip stocks recovered, with Broadcom up 2.2%, Micron up 4.3% and the Philadelphia Semiconductor Index on track to end an eight-day losing streak. Goldman Sachs upgraded CoreWeave to “buy”, though the stock had fallen more than 25% the prior week amid concerns about its $50 billion debt load. Investors are now focused on earnings from Meta and Tesla on Wednesday and SpaceX on Tuesday.
- Nvidia’s CEO Says “All of This Is Going to Pass” After Tech Lost $1 Trillion in a Day
On October 16, 2026, tech stocks lost more than $1 trillion in value in a single session as oil and Treasury yields rose. In Berlin, Nvidia CEO Jensen Huang said “all of this is going to pass” and that AI will benefit every industry, but he announced no new orders, guidance or customers. The Nasdaq 100 fell 2.5% to 29,187.55, and the Philadelphia semiconductor index dropped 3.8%, its eighth straight losing day and longest such streak since 2008. Nvidia slipped 1.43% to $214.13, a $5.17 trillion market value, holding up better than AMD, Intel, Micron and Broadcom. The article argues Huang’s comments do not address the real drivers of the selloff, namely WTI crude at $101.91 on October 14 and the 10-year Treasury yield at 5.10% on October 15, and calls the November 18 earnings report the key test.
- We're downgrading this retail stock after a big comeback. Plus, AI names slide again
U.S. stocks fell Friday, with the Nasdaq down about 2.2%, the S&P 500 off 1.2% and the Dow down about 300 points, or 0.6%, as AI and infrastructure stocks came under pressure over rising capital costs and slowing revenue growth at Anthropic. The SOXX semiconductor ETF fell another 3% on the day and is down about 15% since its last positive day on October 5, while WTI crude climbed back to $100 per barrel. Defensive names such as Kimberly-Clark, Eli Lilly and Cardinal Health drew rotational buying, while CrowdStrike and Palo Alto Networks were among the portfolio's biggest decliners. The CNBC Investing Club downgraded TJX to a hold-equivalent 2 after shares rallied about 5% this week to $147, pushing the position to about 4.25%. Capital One and Meta are the only two portfolio companies scheduled to report next week.
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