StocksMediumUpdated•Originally published 22 October 2026•Updated 22 October 2026•
1 min read
Nasdaq 100 Drops 2% as Tech Shares Face Fresh Selling Pressure
Key Facts
1The Nasdaq 100 rose 1% driven by AI demand expectations and a 12% jump in Super Micro shares.
2Meta Platforms shares dropped 5.5% despite a 26% quarterly revenue increase to $64.6 billion.
The Nasdaq 100 declined 2% on Thursday as technology shares faced fresh selling pressure. This reversal followed an earlier rally led by Super Micro, with the index turning lower despite Meta Platforms reporting a 26% increase in quarterly revenue to $64.6 billion.
AAPL was trading at $343.58 on October 22, 2026, while META closed at $697.52 and SMCI closed at $35.57 on October 21, 2026. On the same date, MSFT closed at $532.95 and GOOGL closed at $334.76.
The CB Consumer Confidence report is scheduled for October 27, 2026, followed by the Fed Interest Rate Decision on October 28, 2026, both of which are key events for tech sector investment sentiment.