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2026-10-22

AI and chip selloff drags Nasdaq down while Dow holds flat

Stock Heatmap
Size = market cap (square-root scaled within sectors) · Color = day's change · Click a sector name to zoom, a tile to open the stock
Zoom into Information TechnologyInformation TechnologyNVDA-4.4%AAPL+1.2%MSFT-2.2%AVGO-4.3%MU-6.3%AMD-8.1%PLTR-2.7%INTC-8.0%CSCO-2.2%ORCL-2.8%AMAT-8.2%PANW+2.2%DELL-6.8%LRCX-11.8%TXN-1.8%CRWD-0.6%IBM+0.3%ANET-7.2%SHOP-3.1%MRVL-8.7%CRM+3.5%KLAC-9.6%SNDKADIQCOMAPHNOWSTXACNWDCFTNTGLWADBEDDOGINTUCDNSSNPSMSIHPELITEMSTRTELNXPIMPWRKEYSADSKTERWDAYCIENALABCOHRZoom into Communication ServicesCommunication ServicesGOOGL-3.1%GOOG-3.1%META-7.0%NFLX+3.1%DIS+1.2%VZ+3.8%TMUS+3.3%TAPPCMCSALYVTTWOTKORDDTCHTRNWSAZoom into FinancialsFinancialsBRK.BJPMVMABACMSGSZoom into IndustrialsIndustrialsSPCX-9.1%Zoom into Consumer DiscretionaryConsumer DiscretionaryAMZN-4.6%TSLA-3.1%HDMCDTJXBKNGSBUXLOWABNBMARMELIZoom into Health CareHealth CareLLY+2.8%JNJ+3.8%ABBVUNHMRKTMOAMGNZoom into Consumer StaplesConsumer StaplesWMT+2.8%COSTKOZoom into EnergyEnergyXOM+0.1%CVXZoom into UtilitiesUtilitiesZoom into Real EstateReal EstateZoom into MaterialsMaterials
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Market Summary

Market & SentimentA split tape: the Nasdaq 100 fell 2.86% while the Dow was flat and the Russell 2000 edged up 0.07%. Breadth stayed positive at 336 advancers versus 170 decliners, with 59.2% of stocks above their 50-day average and 44 new highs against 5 lows. The damage was concentrated in AI and semiconductor names, not the broad market.

Sectors & StocksDefensives led: consumer staples rose 3.2%, utilities 1.95% and health care 1.35%, while industrials fell 3.16%, technology 3.05% and communication services 3.04%. Lam Research dropped 11.76% after a supply-chain warning, dragging KLA down 9.55%; GE Vernova fell 10.64% on Meta's AI financing questions. Moderna slid 17.57% on leaked vaccine data. Blackstone rose 8.38% and Lockheed Martin 6.96%.

Rates, FX & CryptoTreasury yields fell sharply across the curve, with the 10-year down 17bp to 4.96% and the 2-year down 16bp to 4.65%, leaving the 2s10s spread at 31bp. The dollar was mixed: EUR/USD slipped 0.26% while USD/CNY was little changed. Crypto extended losses, with bitcoin down 3.64% to about $81,300 and ether down 3.9%.

Earnings & AnnouncementsProcter & Gamble beat estimates with 4% sales growth and reaffirmed its outlook, helping staples. Comcast beat on media revenue as it prepares to spin off that business. Dow forecast profit above estimates on pricing and cost cuts. Lockheed Martin secured a 10-year framework for 850 F-35 jets and raised guidance. PepsiCo renewed its Taco Bell deal through 2036. No FinDog view changes today.

What to Watch Next Trading Day
  • ExxonMobil, American Express and Schlumberger earnings
  • AI and semiconductor selling pressure
  • Oil reaction to Middle East supply risk
Top News
  1. Chip stocks sink as supply warning deepens AI selloff
    A chipmaking equipment maker's supply warning turned the AI trade into a broad semiconductor selloff, hitting data-center-exposed designers hardest and pulling the Nasdaq sharply lower.
    AMDMRVLINTCLRCXYahoo10-22 15:45 UTC
  2. GE Vernova, power suppliers slump on Meta AI financing worries
    Meta's earnings call left open how the next wave of AI infrastructure gets funded, pressuring power-equipment suppliers tied to data-center demand.
    GEVVRTETNYahoo10-22 18:39 UTC
  3. Jobless claims near 57-year lows, labor market steady
    Initial claims fell to a seasonally adjusted 194,000, underscoring labor market stability and supporting expectations the Fed can stay patient.
    Reuters10-22 09:45 UTC
  4. Oil hits five-month high on Houthi supply fears
    Houthi attacks on Saudi Arabia stoked supply concerns, lifting crude to a five-month high and raising fuel-cost pressure on airlines and consumers.
    Reuters10-22 00:46 UTC
  5. Aramco evacuates Dhahran headquarters amid Houthi clashes
    Saudi Aramco told staff to evacuate its Dhahran headquarters as clashes with Yemen's Houthis continued, adding to regional supply risk.
    Reuters10-21 22:21 UTC
  6. Southwest cuts 2026 profit forecast on higher fuel
    Southwest became the third major US airline this month to cut its 2026 profit outlook due to higher fuel prices.
    LUVCNBC10-21 20:36 UTC
  7. Procter & Gamble beats estimates as sales rise 4%
    P&G topped earnings and revenue estimates, boosted by laundry and home products, and reaffirmed its full-year outlook.
    PGCNBC10-22 11:21 UTC
  8. Comcast beats as media revenue offsets connectivity weakness
    Comcast beat expectations as media revenue offset weaker connectivity, while it proceeds with spinning off its media business.
    CMCSACNBC10-22 11:42 UTC
  9. Dow forecasts profit above estimates on pricing, cost cuts
    Dow guided profit above estimates, citing pricing gains and cost cuts.
    DOWReuters10-22 14:56 UTC
  10. Lockheed Martin secures 10-year framework for 850 F-35s
    Lockheed and the Pentagon announced a 10-year framework to supply 850 F-35 fighters, including a planned $7 billion company investment.
    LMTYahoo10-22 19:19 UTC

Stories are selected and summarized by AI from the day's news coverage. Click a headline to read the original. Not investment advice.

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