Nasdaq Composite loses 370 points at midday as AI stocks slide

At 12:06 p.m. ET on October 16, 2026, the Nasdaq Composite was down 370 points, or 1.4 percent, at 26,343 points, Nasdaq data showed. AI financing concerns pressured semiconductor and cloud stocks during a broader rotation away from technology.

CoreWeave fell 7.6 percent at 10:24 a.m. ET as investors focused on the data-center operator's debt load, Reuters reported. The Nasdaq Composite had declined 0.7 percent at that earlier point.

Why is the Nasdaq Composite down today?

Technology was the main drag as investors reassessed the cost of the artificial intelligence buildout. Reuters said CoreWeave's bonds had sold off sharply, pushing yields above 15 percent. Micron Technology was down 3.9 percent and Advanced Micro Devices lost 3.3 percent in morning trading.

Nasdaq Composite extends the technology selloff

At noon, the Nasdaq Composite was down 1.1 percent while the Dow Jones Industrial Average was up 0.5 percent. That split reflected rotation from growth and technology names toward value-oriented stocks, 24/7 Wall St. said.

Nasdaq breadth was also weak earlier in the session. Advancing issues outnumbered decliners by 1.12 to 1 on the Nasdaq at 10:24 a.m. ET, while the index recorded 40 new highs and 119 new lows, Reuters reported.

Rates and inflation keep technology under pressure

Investors were also weighing hotter inflation readings from earlier in the week and Federal Reserve comments on interest rates. Treasury yields edged lower, but concerns about financing costs for AI infrastructure continued to weigh on technology shares, CNBC reported.

What comes next for the Nasdaq Composite

• October 16, 2026, 1:00 p.m. ET: The federal budget balance is scheduled, with a forecast deficit of USD 34.7 billion versus USD 167.0 billion previously, Investing.com reports.
• October 16, 2026, 2:30 p.m. ET: The CFTC is due to publish speculative positioning data for crude oil, gold and Nasdaq 100 futures, Investing.com reports.
• October 16, 2026, 3:00 p.m. ET: Treasury International Capital data are scheduled, with a USD 75.2 billion forecast for net long-term transactions, Investing.com reports.

Nasdaq Composite price data for October 16, 2026

The Nasdaq Composite stood at 26,343 points at 12:06 p.m. ET on October 16, 2026, according to Nasdaq. It was down 370 points, or 1.4 percent, from the previous close of 26,713 points on October 15, 2026.

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