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

Nasdaq 100 futures fall 1.6% after tech-led Wall Street gains

Key Facts

1Nasdaq 100 futures fell 1.6% to 29,517.25, while S&P 500 futures declined 0.9% to 7,732.75.
2Tesla shares fell 3.1% to $374.35 in trading after Wednesday's close.
3Meta's quarterly revenue totaled $64.60 billion, up 26% year on year.
4The Philadelphia Semiconductor Index lost about 12% during October through the date of the Reuters report, while remaining up 57% since the start of the year.
5Initial jobless claims totaled 199,000 for the week ended October 10, up 1,000 from the previous week.

Nasdaq 100 futures fell 1.6% to 29,517.25 on Thursday morning, October 22, according to Investing.com, after technology stocks led Wall Street gains in the previous session. S&P 500 futures declined 0.9% to 7,732.75. Those levels were recorded at 06:55 GMT, leaving Nasdaq 100 futures with a larger loss than futures on the broader index. The moves followed a 1.1% rise in the Nasdaq Composite at Wednesday's close, in a session led by technology stocks. The composite ended that session at 26,702.86, according to Investing.com, before futures declined the following morning.

In trading after Wednesday's close, Tesla shares fell 3.1% to $374.35, according to Investing.com. The electric vehicle maker's shares declined despite better-than-expected quarterly results. Management's caution on robotics and chipmaking overshadowed those results, the website said. In other corporate results, Meta reported quarterly revenue of $64.60 billion for the period ended September 30. Investing.com said revenue rose "26% from a year earlier," supported by strength in the advertising business. Meta thus reported year-on-year revenue growth, while Tesla shares came under pressure after hours as investors focused on management's comments about its future businesses.

The moves follow a monthly decline in semiconductor stocks, despite the sector retaining gains for the year to date. According to a Reuters report published on Friday, October 16, the Philadelphia Semiconductor Index had lost about 12% during the month. As of that date, the index remained up 57% since the start of the year. On the U.S. labor market, a Labor Department release issued on October 15 showed seasonally adjusted initial jobless claims totaled 199,000 for the week ended October 10. Claims rose by 1,000 from the previous week's revised reading of 198,000, which covered the week ended October 3. The four-week average also increased by 250 claims to 198,500, compared with the previous revised average of 198,250.

On monetary policy, the next Federal Open Market Committee meeting is scheduled for October. The Federal Reserve set October 27 as the meeting's start date. It will run for two days, concluding on October 28. The schedule includes a press conference, according to the calendar published on the Fed's website. The October 27 and 28 meeting follows this week's moves in futures and corporate earnings announcements.