Wall Street closes lower: S&P 500 falls 1.22%, Nasdaq 100 drops 2.90%

The S&P 500 closed at 7662.54 on Thursday, Oct. 22, 2026, down 94.63 points, or 1.22%, from 7757.17. The Nasdaq 100 fell more sharply, ending at 28958.69, down 863.83 points, or 2.90%.

What happened

US equities finished the New York session lower, with technology-heavy indexes under the most pressure. The S&P 500 was at 7662.54 at 15:59 New York time, against a previous close of 7757.17. The Nasdaq 100 stood at 28958.69 at 16:00, compared with 29822.52 the day before.

The gap between the two indexes shows how much of the decline fell on Nasdaq-listed names. The Nasdaq 100 lost 2.90%, more than twice the 1.22% fall of the S&P 500. In points, the S&P 500 declined by 94.63, while the Nasdaq 100 declined by 863.83.

A market commentary published during the afternoon described a sharp decline in the Nasdaq. The same commentary also pointed to some bright spots in the market. It was written as an update for the last hour of trading, when the selling was already under way.

The commentary framed the session as a rout for the Nasdaq, and the closing figures confirm a large one-day drop for the index. The text did not turn the day into a broad collapse, since it also noted pockets of strength elsewhere in the market.

Rates, dollar and gold

The 10-year Treasury yield stood at 4.952% in late trading, down 19.4 basis points from the previous close of 5.146%. A move of that size in one session is large for the benchmark US government bond. The yield on the 10-year note is a reference for borrowing costs across the economy.

The US Dollar Index stood at 101.4800, down 0.3000 points, or 0.29%, from 101.7800. The dollar eased alongside the fall in yields.

Gold futures stood at 4038, down 112 points, or 2.70%, from 4150. Gold therefore fell together with equities and Treasury yields in the same session. The decline in gold was larger in percentage terms than the fall in the S&P 500 and slightly smaller than the fall in the Nasdaq 100.

The pattern is unusual in one respect. Stocks, bond yields, the dollar and gold all moved lower on the same day, so no single asset class stood out as a clear destination for capital in the data available.

Earnings season

Several US companies reported results on Oct. 22. Blackstone reported pre-market earnings per share of 1.32 USD, against an estimate of 1.26 USD. Its revenue was 3.22 billion USD, against an estimate of 3.27 billion USD.

Comcast posted earnings per share of 1.07 USD, against an estimate of 0.99 USD. Revenue was 29.3 billion USD, against an estimate of 29.22 billion USD.

CBRE Group reported earnings per share of 2.05 USD, against an estimate of 1.96 USD, and revenue of 11.52 billion USD, against an estimate of 11.81 billion USD. Allegion reported earnings per share of 2.6 USD, against an estimate of 2.5 USD, and revenue of 1.17 billion USD, against an estimate of 1.14 billion USD.

After the close, Bloom Energy reported earnings per share of 0.94 USD, against an estimate of 0.69 USD. Its revenue was 1.24 billion USD, against an estimate of 1.07 billion USD.

Why it matters

The Nasdaq 100 fell 2.90% in one session, a large move for a broad technology benchmark. The S&P 500 includes many of the same large companies, so the two indexes often move in the same direction, and both fell on Thursday.

The fall in the 10-year yield, to 4.952% from 5.146%, shows that the bond market also moved sharply. The drop in gold, at 2.70%, and the softer dollar, at 0.29%, mean that several asset classes moved at the same time. The commentary on the session focused on the Nasdaq decline and did not set out a single cause for the wider moves.

Company reports came from different sectors, including asset management, media, real estate services, building security and energy equipment. Their results were published in the same session as the index declines, so the earnings figures above sit alongside the market moves without a stated link between them.

For international readers, the Nasdaq 100 and the S&P 500 are widely used gauges of US equity performance. The 10-year Treasury yield is a common reference for global financing costs, and gold and the dollar index are tracked as measures of currency and commodity conditions. Moves in all of them on one day make the session a broad one for cross-market data.

What to watch next

The next session will show how the Nasdaq 100 and the S&P 500 trade after the declines of 2.90% and 1.22%. The 10-year Treasury yield, at 4.952% in late trading, remains a key reference for the bond market.

Bloom Energy results came after the close, so the share price reaction to its earnings per share of 0.94 USD and revenue of 1.24 billion USD will appear in later trading. The levels of gold futures at 4038 and the US Dollar Index at 101.4800 will also be followed for cross-asset moves.

Market participants will also look for further commentary on what drove the Nasdaq decline, since the available text described the move but did not give one explanation. Further company reports in the coming sessions will add to the earnings picture started on Oct. 22.