{
  "id": 16117249,
  "title": "S&P 500, Nasdaq end sharply lower as revived AI doubts ignite tech sell-off",
  "url": "https://urgent.news/2026/10/22/s-p-500-nasdaq-end-sharply-lower-as-revived-ai-doubts-ignite-tech-16117249",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-22T21:55:46.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/sp-500-nasdaq-end-sharply-lower-revived-ai-doubts-ignite-tech-sell"
  },
  "original_language": "en",
  "account": "On Thursday, October 22, the US stock market experienced a significant downturn as fresh concerns about artificial intelligence (AI) spending efforts sent tech stocks tumbling. The Nasdaq posted its steepest daily decline since early June, plummeting 2.6% in the aftermath of a series of high-profile AI-related earnings reports. The S&P 500 also saw a notable drop, ending deep in negative territory. Despite Meta Platforms meeting analyst expectations, its stock fell 7% amid the company's first cash outflow in over a decade due to AI expenditures and a plan to issue non-voting shares in a two-for-one split. Tesla, meanwhile, saw its shares drop 3.1% after posting positive free cash flow and cutting 2026 capital spending plans. The Philadelphia Semiconductor Index, which has been a major driver of the current bull market, experienced its largest single-day percentage decline since June 23, sinking 6.7%. The overall market sentiment was still positive, with the Dow Jones Industrial Average managing a nominal gain of 0.02% before the market closed. Investors are increasingly questioning the validity of the AI spending narrative, and this skepticism appears to be impacting the tech-heavy indices, which are heavily weighted towards technology. Geopolitical tensions between Iran and Saudi Arabia also contributed to a surge in crude prices, raising concerns about potential inflation and the likelihood of the US Federal Reserve continuing its rate hikes.",
  "summary": "This comes in the wake of a spate of high-profile AI-related earnings results",
  "key_points": [],
  "editors_take": null,
  "illustration": "https://urgent.news/ill/16117249.png",
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Straits Times Business",
        "title": "S&P 500, Nasdaq end sharply lower as revived AI doubts ignite tech selloff",
        "url": "https://urgent.news/2026/10/22/s-p-500-nasdaq-end-sharply-lower-as-revived-ai-doubts-ignite-tech",
        "published": "2026-10-22T20:39:43.000Z"
      },
      {
        "outlet": "Channel News Asia",
        "title": "S&P 500, Nasdaq end sharply lower as revived AI doubts ignite tech selloff",
        "url": "https://urgent.news/2026/10/22/s-p-500-nasdaq-end-sharply-lower-as-revived-ai-doubts-ignite-tech-16114876",
        "published": "2026-10-22T21:34:36.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "S&P 500, Nasdaq end sharply lower as revived AI doubts ignite tech selloff",
        "url": "https://urgent.news/2026/10/22/s-p-500-nasdaq-end-sharply-lower-as-revived-ai-doubts-ignite-tech-16119068",
        "published": "2026-10-22T22:00:45.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}