This Week on Wall Street
Your weekly cheat sheet — what's moving markets, what's coming up, and what it means for your portfolio. No jargon, just clarity.
This Week in Markets
Wall Street suffered its roughest session since the summer on Thursday, with the Nasdaq Composite tumbling 2.6% to 26,008.86 and the S&P 500 sliding 1.2% to 7,663.43 as renewed worries about AI-related spending hit chip and software names hard. The Dow Jones eked out a 0.02% gain to 52,867.98, essentially flat, as defensive sectors absorbed the rotation out of megacap tech. Meta shares plunged roughly 7% after a disappointing earnings reaction, and Tesla dropped 3.1% after trimming its 2026 capital-spending plan, dragging Technology down 3.29% and Communication Services down 1.42% on the day, while Consumer Staples led gainers, up 3.31%, as investors rotated into safer names. The VIX spiked to 18.84, its steepest jump since June, while the 10-Year Treasury yield fell to 4.97% on a flight to bonds and WTI crude surged to a five-month high near $100.90. Sentiment soured further — the Fear & Greed Index slid to 33, deeper in Fear territory — as traders brace for Friday's flash PMIs and look ahead to Verizon's and Electronic Arts' earnings next week and the Fed's October 28 rate decision.