Nvidia CEO Jensen Huang, speaking in Berlin on October 16, 2026, said “all of this is going to pass” after a selloff that wiped more than $1 trillion from tech stocks in one day. The Nasdaq 100 fell 2.5% to 29,187.55, while the Philadelphia semiconductor index dropped 3.8% for its eighth straight losing day, its longest streak since 2008, as oil hit a five-month high. Nvidia slipped 1.43% to $214.13, while AMD, Intel, Micron and Broadcom fell between 4.52% and 5.95%. The article argues the pressure came mainly from oil and Treasury yields, with the 10-year at 5.10%, rather than from AI itself, and notes that Huang announced no new orders or guidance. Investors will look to Nvidia's November 18 earnings, where management guided to fiscal third-quarter revenue of $108.0 billion, plus or minus 2%.
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Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/16/2026 | 214.14 |
| Change that session | -1.42% |
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% |
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- US markets weighed down by extended sell - off in the tech sector
- 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.
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