Tech stocks lost more than $1 trillion in value on Friday as oil hit a five-month high, with the Nasdaq 100 down 2.5% and about 7% below the record it set only last week, while the Philadelphia semiconductor index fell 3.8% for its eighth straight daily loss, the longest such streak since 2008. Brent crude topped $110 a barrel intraday and closed the week at $109.86, its highest close since May 19, while U.S. crude jumped 3.5% to $101.41, the first time WTI crossed $100 since September. Energy prices have climbed since late February, when the U.S. and Israel attacked Iran and the Strait of Hormuz closed, and a Russia-Ukraine escalation has hit Russian refining capacity, pushing diesel prices up even faster than gasoline. President Donald Trump is focused on diesel costs ahead of the Nov. 3 midterms, but his Russian diesel deal has yet to show any actual barrels reaching the global market, and a bill to block it has little chance in the Republican-controlled House. Investors also questioned when massive AI spending would pay off, as CoreWeave and Nebuius were the Nasdaq 100's worst performers that day, and a day earlier analyst Ed Yardeni cut his year-end S&P 500 target to 7,900 fro
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Related tickers and likely impact
PVD
▲ Likely positivePetroVietNam
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Oil & Gas |
| Industry | Oil Equipment & Services |
| Market cap | 16,375 bn VND |
| P/E | 14.7 |
| P/B | 0.95 |
| Close on 10/16/2026 | 17.65 |
| Change that session | -0.28% |
PLX
▼ Likely negativePetrolimex
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Oil & Gas |
| Industry | Integrated Oil & Gas |
| Market cap | 44,534 bn VND |
| P/E | 13.9 |
| P/B | 1.83 |
| Close on 10/16/2026 | 35.05 |
| Change that session | -1.41% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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India's Nifty 50 closed at 22,888.95, down 257.20 points or 1.11%, and the BSE Sensex fell 876.37 points or 1.17% to 73,852.90 on Monday as weakness in private banks, disappointing corporate earnings and rising crude prices weighed on sentiment. Axis Bank fell more than 4%, and almost all NSE sectoral indices closed lower, with only the Nifty PSU Bank index rising 2.41%. Brent crude traded at USD 108.50 a barrel, raising concerns about imported inflation and corporate costs. The rupee firmed for a seventh straight session to near 94.95 per dollar, but RBI reserves fell by USD 8.6 billion to USD 726 billion in the week ended October 9, a drawdown of nearly USD 60 billion since early September. Asian markets were mixed, with Japan's Nikkei down 0.64% and South Korea's KOSPI up 1.73%.
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- Sensex sinks 876 points , Nifty falls 1 . 11 % as Crude oil nears USD 109
- Sensex sinks 876 points , Nifty falls 1 . 11 % as Crude oil nears USD 109
Indian stock markets closed sharply lower, with the Nifty 50 down 257.20 points (1.11%) at 22,888.95 and the BSE Sensex down 876.37 points (1.17%) at 73,852.90. Selling was widespread as weakness in private banks, earnings below expectations and rising crude prices weighed on sentiment, with Axis Bank falling more than 4%. The Nifty PSU Bank index was the only major sectoral index to end higher, rising 2.41%. Brent crude traded at USD 108.50 per barrel, while the rupee firmed for a seventh straight session near 94.95 per dollar even as RBI reserves fell USD 8.6 billion to USD 726 billion in the week to October 9.
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