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 closed out October with its roughest session since June on Friday, as deepening unease over the scale of Big Tech's AI spending sent the S&P 500 down 1.82% to 7,580.07, the Nasdaq Composite tumbling 2.86% to 25,437.00, and the Dow Jones slipping 1.09% to 51,770.31. The selloff was concentrated in megacap tech: Intel plunged roughly 30% on a soft fourth-quarter revenue outlook and Amazon reaffirmed a $220 billion 2026 capital-spending plan with more to come in 2027, reviving doubts about whether AI infrastructure outlays will pay off. Week-to-date, Technology fell about 3.95% and Consumer Discretionary slid 1.70%, while Healthcare led with a 2.80% gain and Energy added 2.35% as nine of the eleven sectors still finished the week in the green. The VIX jumped nearly 13% to 19.42 and the 10-Year Treasury yield eased to about 4.94% on haven demand, while gold slid to roughly $3,886, its lowest close in about a year, even as WTI crude rose to around $104. Sentiment soured into the weekend — the Fear & Greed Index fell to 24, in the Fear zone — as investors head into a data-heavy week headlined by Apple's earnings Monday and Friday's October jobs report.