Nasdaq Today: 26,008 After a 2.6% Drop as Oil Hits $116 and…
By Abdelaziz Fathi
AI summary of the source article
The Nasdaq Composite fell 2.6% to 26,008.86 amid a 6.72% plunge in semiconductor stocks, driven by concerns over AI infrastructure financing costs and rising oil prices. Brent crude climbed to $115.86, while the 10-year Treasury yield hovered near 4.99%.
Why it matters
The 5% threshold matters because US government debt provides a relatively high-yielding alternative to equities, particularly businesses whose valuations depend heavily on profits expected years into the future.
Key facts
- The Nasdaq Composite fell 694 points to 26,008.86, and the Philadelphia Semiconductor Index plunged 6.72%.
- Brent crude rose to $115.86 amid concerns over Middle East conflicts and potential supply disruptions.
- The 10-year Treasury yield fluctuated between 5.02% and 4.95% before trading near 4.99%.
Source excerpt · FinanceFeeds
The Nasdaq Composite ended Thursday, October 22, at 26,008.86, down 694 points or 2.6%, as a sharp selloff in semiconductor and artificial intelligence stocks collided with renewed concerns about financing costs and rising oil prices. The Philadelphia Semiconductor Index plunged 6.72%, while Meta, Nvidia and AMD suffered substantial losses. Friday's session opened under pressure from the same two…