Section
Philadelphia Semiconductor Index
The latest Philadelphia Semiconductor Index coverage from Bullquill: sourced, dated and explained.
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Nasdaq falls 2.6% to 26,008.86 as AI spending worries hit chips
The Nasdaq Composite fell 2.6% to 26,008.86 on October 22, its steepest one-day drop since early June. Reuters and Yahoo Finance said renewed worry about AI spending after Meta and Tesla results drove the selloff, which hit chip stocks hardest.
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US Stocks daily brief, Oct 22, 2026: Nasdaq sinks 2.6% on AI costs
The Nasdaq fell 2.6% and the S&P 500 1.2% on October 22 as AI-spending worries hit chipmakers and Meta, while the Dow held flat on gains in defensive stocks. the 10-year Treasury yield dropped below 5% and the VIX jumped 14%.
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Chip stocks slump 5.6%, lowest since July 29, on AI spending fears
The Philadelphia SE Semiconductor Index fell 5.6% to its lowest since July 29 on October 22, led by Lam Research, AMD, Intel and Marvell, as Meta's new non-voting shares and Tesla's capex cut prompted investors to reassess AI infrastructure spending.
