Wall Street closes lower to end rocky week
By Lewis Krauskopf, Tharuniyaa Lakshmi and Ragini
Mathur
Fri October 23, 2026
As far as tech went, today became a day of recovery after Thursday’s extreme rout and the recovery lasted until noon when both indexes started declining again. The S&P sank to the morning lows while the Nasdaq stayed closer to flat. There remain serious concerns about the expenses of the AI build-outs and, for the first time, an expert is predicting that next year the sector will have to cut back on the building of the data centers.
With tech seeing a bit of a recovery, industrials sank over 600 points right out the gate and stayed there all day, closing with a very serious 3-digit loss. The cell carriers got hit particularly hard as SpaceX seeks to start a fourth service. The price of crude keeps rising which as always threatens consumer costs which has now put the consumer sentiment numbers near historic lows. The good news is that volume was low, coming in at 15.4 billion vs the 17.2 average as investors sit on the fence waiting for more Q3 with a slate of major AI companies due to report next week as well as a full-third of the S&P index.
DJ: 52,867.98 +11.89 NAS: 26,008.86
-694.00 S&P: 7,663.43
-93.74 10/22
DJ: 52,215.16 -652.82 NAS: 25,955.34
-53.52 S&P: 7,623.68
-39.75 10/23
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