Wall Street’s VIX volatility index rose 34.8 percent on Friday to 22.2 points, as US technology shares fell sharply during the session. The index had opened at 16 points and touched an intraday high of 22.3 points.
Technology shares under pressure
At mid-session the Nasdaq Composite fell 1.8 percent to 26,222 points, the S&P 500 fell 0.9 percent to 7,672 points and the Dow Jones fell 0.3 percent to 52,013 points. The VanEck Semiconductor ETF, known by its ticker SMH, had declined 8 percent since the start of the week. CoreWeave shares fell 10 percent on the day and had dropped more than 23 percent over the week; the company’s total debt exceeds $51 billion.
By our own measurement, the Nasdaq Composite closed at 26,164.21 points on 16 October 2026, down 2.05 percent from the previous close and near its 31-day low. The S&P 500 closed that day at 7,668.09 points, down 0.98 percent, while the Dow Jones closed at 51,998.90 points, down 0.34 percent and near its 31-day high.
Oil climbs on geopolitical tension
WTI crude oil rose 3.1 percent to $101 a barrel. The move came amid tensions between the United States and Iran, as well as Ukrainian attacks on Russian refineries. Gold also edged higher, gaining 0.3 percent to $4,181 an ounce.
Investors were also weighing inflation data that came in above expectations. The Federal Reserve’s next meeting is scheduled for 27-28 October, and CME FedWatch put the probability of rates staying unchanged at that meeting at 85 percent.
Related: Tech rebound lifts Wall Street, Nasdaq up 0.64 percent · Wall Street rises as SpaceX shares gain and telecom stocks fall
Data: S&P Dow Jones Indices · Nasdaq
