Business

AI stocks slip and global markets retreat as oil hits five-month high

Fast Company·Oct 22, 2026 · 4:08 PM CT
Read the original at Fast Company
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Losses in artificial-intelligence stocks pulled markets down around the world on Thursday, the AP reported via Fast Company, while oil rose to its highest level since May on worries about the war with Iran.

The S&P 500 fell 1.3% after sharper losses in tech-heavy Asian markets. As of 12:56 p.m. Eastern, the Nasdaq composite was down 2.4%, while the Dow was off a modest 40 points, or 0.1%.

AI stocks have been shaky on worries about the rising cost of borrowing to build data centers and buy chips, and that prices simply ran too high. Lam Research beat profit and revenue expectations but tumbled 11.1% after its forecast midpoint came in slightly below analysts' estimates.

Summary written by Readthrough from the original article. The full story, with photos and any updates, is at Fast Company.

Read the original at Fast Company

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