S&P 500 loses 1.4 percent as Meta and oil drag stocks
Published on 10/22/2026 at 22:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAI spending and oil pressure
- The S&P 500 closed at 7,647.74 points on October 22, down 109.43 points or 1.4 percent.
- Brent crude rose 2.6 percent to USD 111.60 as Middle East tensions lifted oil prices.
- Meta Platforms fell 6.4 percent after profit missed expectations and AI spending concerns grew.
- October 23, 9:45 a.m. ET: Flash manufacturing and services PMI data are due.
The S&P 500 closed at 7,647.74 points on October 22, losing 109.43 points or 1.4 percent. Oil prices rose as Middle East tensions renewed pressure on risk-sensitive technology shares, GVWire reported.
Meta Platforms fell 6.4 percent after revenue beat expectations but profit missed, while the company outlined heavy artificial intelligence spending, the Pittsburgh Post-Gazette reported. Lam Research lost 9.7 percent after its profit outlook fell short of expectations.
Why is the S&P 500 down today?
The selloff centered on AI-related spending and semiconductor shares. Nvidia fell 3.8 percent, while Lam Research dropped 9.7 percent after its forecast disappointed investors despite stronger quarterly results.
Brent crude rose 2.6 percent to USD 111.60 after touching its highest level in five months. The 10-year Treasury yield fell to 5.01 percent from 5.13 percent late Wednesday as investors sought government bonds, the Pittsburgh Post-Gazette reported.
Meta and chip stocks lead the S&P 500 decline
Technology weakness outweighed gains in other parts of the market. The majority of S&P 500 stocks rose, but large technology companies exerted greater influence on the index.
Procter & Gamble rose 5.8 percent after reporting quarterly results and retaining its full-year forecasts. Lockheed Martin and CSX also reported better-than-expected quarterly results, limiting the broader decline.
What comes next for the S&P 500
- October 23, 2026, 9:45 a.m. ET: S&P Global flash services PMI is expected at 57.9, versus 58.8 previously, Investing.com reports.
- October 23, 2026, 9:45 a.m. ET: Flash manufacturing PMI is expected at 55.4, versus 55.9 previously, Investing.com reports.
- October 23, 2026, 10:00 a.m. ET: Final University of Michigan consumer sentiment is scheduled after a preliminary 46.3 reading, FXEmpire reports.
S&P 500 price data for October 22, 2026
The S&P 500 closed at 7,647.74 points on October 22, 2026, down 109.43 points or 1.4 percent versus the previous close of 7,757.17 points, GVWire reported.
S&P 500 by the numbers on October 22, 2026
- Index: S&P 500
- Home exchange: NYSE and Nasdaq, United States
- Close on October 22, 2026: 7,647.74 points
- Change versus previous close of October 21, 2026: down 109.43 points (down 1.4 percent)
- Previous close: 7,757.17 points
