Tech stocks fell sharply on Thursday as concerns grew over whether massive AI investments would generate sufficient returns; the Nasdaq dropped 2.6%, its steepest daily decline since June, while the S&P 500 fell 1.2%. Meta tumbled 7% after raising the low end of its capex forecast by $5 billion to $135 billion to $145 billion and announcing plans for a new share structure, despite better-than-expected Q3 revenue; Nvidia (NVDA) lost 4% and SpaceX (SPCX) fell about 9%. Netflix shares slid after its Q4 profit forecast fell short of expectations and it cut its full-year advertising forecast, even though Q3 revenue rose nearly 12%. Western Digital and Lam Research both reported results above expectations, but WDC shares fell 6.4% the day after its report.
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Related tickers and likely impact
META
▼ Likely negativeMeta Platforms
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.9T |
| Close on 10/22/2026 | 648.91 |
| Change that session | -6.97% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/22/2026 | 704.59 |
| Change that session | -2.84% |
NVDA
▼ Likely negativeNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/22/2026 | 212.28 |
| Change that session | -4.36% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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