EL7.AI
StocksMedium•22 October 2026•
3 min read

Nasdaq 100 Falls 2.2% as Tech Slides, Oil Rises and Inflation Fears Resurface

Key Facts

1The Nasdaq 100 fell 2.2% during the session at 12:10 p.m. New York time.
2Meta shares fell 6.2% despite better-than-expected results and a higher capital expenditure forecast.
3The Energy Information Administration forecast Brent would average 105 dollars per barrel in the fourth quarter, up 14 dollars from the previous month's forecast.
4Initial unemployment claims fell to 194,000 from a revised 200,000 the previous week, a decline of 6,000 claims.
5The Fed raised its target rate range by a quarter of a percentage point to 3.75%–4% in September.

The Nasdaq 100 fell 2.2% during trading on October 22, 2026, at 12:10 p.m. New York time, as technology stocks led the market lower, according to Bloomberg coverage carried by Moneycontrol. Bloomberg linked the selloff to mounting concerns over the conflict in the Middle East and rising oil futures, which renewed inflation fears. Energy pressures coincided with concerns over technology companies' spending and borrowing, as corporate results and forecasts ranged from better-than-expected performance to weaker outlooks. The session's losses followed gains in technology shares the previous day, when the Nasdaq Composite ended trading on October 21 up 1.05% at 26,702.86 points, according to historical data from Investing.com. The Composite's advance was thus followed by a technology-led selloff, with the Nasdaq 100 declining during the next trading session.

Meta was among the prominent decliners, losing 6.2% during the session, according to Bloomberg, despite reporting better-than-expected results. The company raised its capital expenditure forecast, fueling concerns about increased borrowing by technology companies to finance their plans. The stock reacted negatively despite results beating estimates, with the scale of anticipated spending emerging among the concerns identified in the coverage. Tesla shares fell 1.5% after the company cut its spending plans, leaving both companies' shares facing selling following different approaches to capital expenditure. Tesla's high operating expenses highlighted the cost of its expansion into artificial intelligence, robotics and autonomous driving. Spending pressures thus extended from borrowing concerns tied to Meta's plans to the operating costs accompanying Tesla's expansion into these activities.

Pressure spread to the chipmaking equipment sector after Lam Research's outlook fell short of expectations, according to Bloomberg. That outlook overshadowed Texas Instruments' better-than-estimated results, adding corporate business prospects as another source of pressure on technology stocks. In energy markets, rising oil futures were accompanied by renewed inflation fears that Bloomberg linked to falling stocks and mounting concerns over the conflict in the Middle East. Against this backdrop, the U.S. Energy Information Administration projected in its October report that Brent spot prices would average 105 dollars per barrel in the fourth quarter of 2026. That estimate is 14 dollars per barrel above the previous month's forecast, an upward revision to crude price projections for the same period.

On the U.S. economy, a Labor Department release showed seasonally adjusted initial unemployment claims fell to 194,000 in the week ended October 17. The weekly decline was 6,000 claims compared with the reading for the week ended October 10. That week's reading had been revised to 200,000 claims, according to the department. Meanwhile, the seasonally adjusted number of people continuing to receive unemployment benefits rose to 1,728,000 in the week ended October 10. The increase was 25,000 compared with the revised reading of 1,703,000 for the week ended October 3. The department's release thus combined a decline in initial claims in the latest week with an increase in continuing beneficiaries in the preceding period.

These developments come after the Federal Reserve raised the target range for the federal funds rate by a quarter of a percentage point in its September 16 decision. The target range became 3.75%–4%, according to the U.S. central bank's statement. The Fed said in the statement that "inflation remains elevated," providing the context in which the rate increase preceded renewed inflation fears accompanying rising oil prices during the October session. The bank described economic activity as expanding at a strong pace, with domestic spending remaining resilient. The Federal Reserve holds its next meeting on October 27–28, according to the Federal Open Market Committee's official schedule. A meeting scheduled for December 8–9 follows, among the remaining dates for considering monetary policy during 2026.