Nasdaq Falls 2.6% as Chip Stocks Slide on AI Spending Worries

On Thursday, Oct. 22, 2026, the Nasdaq stock index fell 2.6%, pulled down by chip makers. Meta's earnings report revived worries about heavy AI spending such as chips and data centers. Reuters called it the biggest drop in four periods. AI stocks were mixed as trading quieted. Whether this is a wider shift between stock groups remains unclear.