AI stocks tumble worldwide as oil prices surge to $113.17 per barrel
AI‑focused equities led a sharp market pullback on Thursday, dragging the S&P 500 down 1.2% to 7,663.43 and the Nasdaq composite down 2.6% to 26,008.86, while the Dow Jones added 11 points to 52,867.98. Nvidia fell 4.4%, Meta Platforms slipped 7%, Tesla dropped 3.1%, CoreWeave tumbled 10.1% and Lam Research sank 11.8% despite reporting better‑than‑expected summer earnings.
Key points
- AI stocks led market declines, with Nvidia down 4.4%, Meta down 7%, Tesla down 3.1%, CoreWeave down 10.1% on Thursday.
- S&P 500 fell 1.2% to 7,663.43 and Nasdaq dropped 2.6% to 26,008.86, while Dow edged up 11 points to 52,867.98.
- Brent crude rose 4% to $113.17 per barrel, its highest since May, adding pressure to global markets.
The sell‑off coincided with a jump in Brent crude, which rose 4% to $113.17 per barrel – its highest level since May – as concerns over the war with Iran heightened energy‑market volatility. U.S. 10‑year Treasury yields fell to 4.97% from 5.13% the day before, while Asian indexes also fell, with South Korea’s Kospi down 3.5%, Hong Kong’s Hang Seng down 3% and Japan’s Nikkei 225 down 2.7%. In Europe, France’s CAC 40 slipped 1.4% amid rising bond yields and fiscal‑debt worries.
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Sharp drops for AI stocks overwhelm markets worldwide as oil prices jump
The Guardian AI · 22 October 2026
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