The Nasdaq Composite fell 5.2% in October, its worst month since March 2025, while the S&P 500 dropped 1.2% and the Dow Jones Industrial Average rose 1.5%. Tech and AI stocks led the sell-off amid concerns over Big Tech's massive AI infrastructure spending, uncertain returns, elevated valuations and rising borrowing costs, along with disappointing results and outlooks from Amazon, Alphabet and Intel. The largest inflows went to DFAC ($49.3 billion), VOO ($29.4 billion) and SPYM ($9.3 billion) as of Oct. 30, 2026. MUB added about $7.0 billion and SOXL drew about $6.9 billion despite losing around 48% over the month, and the article suggests investors may have bought the dip betting on a rebound. Small-cap fund IWM saw about $2.3 billion in outflows as rising rate and inflation concerns weighed on sentiment.
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