The Nasdaq 100 posted its worst weekly performance in 18 months, falling 4.5% in the week ending October 16, 2026. Tech and AI-linked stocks slid over doubts about when debt-heavy AI infrastructure firms will turn profitable, along with high oil prices and hot inflation data. Both the Nasdaq Composite and Nasdaq 100 dropped below their 50-day moving averages, and the VIX rose above 20 for the first time since July. Nebius Group (NBIS) and CoreWeave (CRWV) fell about 12% on Friday alone, and the Philadelphia Semiconductor Index posted its eighth consecutive daily loss, its longest losing streak since 2008. Meanwhile, defensive names such as T-Mobile US, Costco and Walmart posted moderate gains, and analysts favor mega-caps Nvidia, Microsoft and Meta.
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