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Friday's selloff closed the month. The Nasdaq Composite ended at about 25,437, down 2.9% on the day, and lost 5.2% or 5.3% for October depending on the source, its worst month since March 2025.
The S&P 500 fell 1.2% for the month while the Dow rose 1.5%, a split that puts the damage squarely on the AI trade. The Nasdaq finished 7.8% below its October 6th record.
Meta, Alphabet and Tesla sit roughly 19% to 20% below their 52-week highs, Amazon 15% and Nvidia 12%, and SpaceX has shed more than $400 billion of market value since October 6th.
Truist's Keith Lerner called a 10% tech pullback normal for this bull market and sees another 2% to 8% of downside. Apple, the last megacap to report, does so on Monday.
Nasdaq ends October down about 5%, its worst month since March 2025
Friday's selloff closed the month. The Nasdaq Composite ended at about 25,437, down 2.9% on the day, and lost 5.2% or 5.3% for October depending on the source ?, its worst month since March 2025. The S&P 500 fell 1.2% for the month while the Dow rose 1.5%, a split that puts the damage squarely on the AI trade. The Nasdaq finished 7.8% below its October 6th record. Meta, Alphabet and Tesla sit roughly 19% to 20% below their 52-week highs, Amazon 15% and Nvidia 12%, and SpaceX has shed more than $400 billion of market value since October 6th.
Truist's Keith Lerner called a 10% tech pullback normal for this bull market and sees another 2% to 8% of downside. Apple, the last megacap to report, does so on Monday. SourcesBB
Sources
- BStock market today, October 30th (Yahoo Finance)finance.yahoo.com
- BTech stocks slide as AI boom fears deepen (NBC News)nbcnews.com
This story ran in the Morning Brief of October 31st 2026.