{
  "id": 16251733,
  "title": "US stocks: Wall Street closes lower to end rocky week",
  "url": "https://urgent.news/2026/10/23/us-stocks-wall-street-closes-lower-to-end-rocky-week",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-23T23:45:46.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/us-stocks-wall-street-closes-lower-end-rocky-week"
  },
  "original_language": "en",
  "account": "Wall Street suffered a down day on Friday as investors navigated a bumpy week in the market. The main indices, the Nasdaq Composite, S&P 500 and Dow Jones Industrial Average, all closed lower despite some steadying in technology shares. The tech-heavy Nasdaq saw a slight dip after its biggest one-day decline since June, raising concerns about financing costs to support heavy AI investment spending. Most sectors in the S&P 500 fell, except for the technology sector, which gained 0.35 percent. A majority of S&P 500 sectors declined, including those for consumer staples, consumer discretionary and financials. Corporate earnings reports are expected to be released by about one-third of S&P 500 companies next week, with a focus on AI hyperscalers such as Alphabet, Microsoft and Amazon. Analysts are concerned about the potential slowdown in AI data center build-out due to questioning of the AI trade. The Dow Jones fell 652.82 points, or 1.23 percent, to 52,215.16; the S&P 500 lost 39.75 points, or 0.52 percent, to 7,623.68 and the Nasdaq dropped 53.52 points, or 0.21 percent, to 25,955.34. Telecommunications stocks took a hit after reports claimed SpaceX was seeking thousands of cell sites for a fourth wireless carrier, causing shares of AT&T, T-Mobile and Verizon to drop nearly 8 percent, 8 percent and 1.2 percent respectively. SpaceX shares, however, rose 1.9 percent. Energy stocks rose 2.5 percent, reaching a record high, as Houthi attacks in Saudi Arabia raised concerns about potential energy supply disruptions from the Middle East. US cell tower operators, Crown Castle and American Tower, gained 9 percent and 4 percent respectively. Consumer sentiment fell near a record low in October due to rising prices, potentially impacting corporate profit growth. The Federal Reserve is expected to keep interest rates steady at its policy meeting on Wednesday, while investors await clues about possible rate hikes at the December meeting. The midterm elections on Nov 3 will also be a focus for Wall Street, as they determine control of the US Congress.",
  "summary": "All three major indices fell lower for the day",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Business Recorder",
        "title": "Japan's Nikkei slumps as Wall Street tech selloff bites",
        "url": "https://urgent.news/2026/10/23/japans-nikkei-slumps-as-wall-street-tech-selloff-bites",
        "published": "2026-10-23T06:33:47.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "Wall Street closes lower to end rocky week",
        "url": "https://urgent.news/2026/10/23/wall-street-closes-lower-to-end-rocky-week",
        "published": "2026-10-23T21:02:36.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Wall Street closes lower to end rocky week",
        "url": "https://urgent.news/2026/10/23/wall-street-closes-lower-to-end-rocky-week-16232013",
        "published": "2026-10-23T21:44:26.000Z"
      }
    ]
  },
  "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."
}