Stock Market Update
22-Oct-26 10:35 ET
Major averages move lower for the week as semiconductors retreat
Dow -319.57
at 52536.73,
Nasdaq -587.22
at 26136.08,
S&P -106.75
at 7650.49
[BRIEFING.COM] The major averages continue to extend their losses, with the S&P 500 (-1.3%), Nasdaq Composite (-2.2%), and DJIA (-0.5%) moving further into negative territory. The latest retreat has pushed both the S&P 500 and Nasdaq Composite slightly lower for the week, erasing their gains from earlier sessions.
The information technology sector (-2.7%) remains under pronounced selling pressure, with the PHLX Semiconductor Index (-5.1%) extending its sharp decline amid widespread weakness in AI-related stocks. CoreWeave (CRWV 57.90, -3.92, -6.35%) has fallen back toward its lows for the week, while other data center infrastructure names are also facing heavy selling pressure.
The weakness follows a 3.5% overnight decline in South Korea's Kospi and broader losses across global technology stocks. The PHLX Semiconductor Index has fallen to its lowest level since early August and is now down 1.7% for the week and 13.4% in October, underscoring the extent of the recent retreat in semiconductor stocks.
