Why it matters
- The Nasdaq Composite fell 4.48% for the week to 26,140.03 on Friday, Oct. 16, and the S&P 500 lost 1.95%, while the Dow rose 0.67%. Yahoo Finance tied the tech slide to "continued scrutiny of AI.
- Asia's chip-heavy markets took the biggest hits. South Korea's Kospi fell 14.46% from its Oct. 8 close and Japan's Nikkei 225 5.37%, while the STOXX Europe 600 gained 2.09%.
- Oil rose and Treasury yields fell. Brent futures gained about 4.9% to near $110 a barrel, and the 10-year Treasury par yield fell to 5.09% from 5.24%, Treasury Department data show.
Analysis: this piece includes our interpretation of the facts reported.
The Nasdaq Composite fell 4.48% from Oct. 9 to Friday, Oct. 16, closing at 26,140.03, Yahoo Finance data show. Yahoo Finance called it the index's worst week since late June. Brent crude futures rose about 4.9% to near $110 a barrel, and the 10-year Treasury par yield fell 0.15 point to 5.09%.
The week also brought hotter U.S. inflation data. Consumer prices rose 3.7% from a year earlier in September, and producer prices jumped 1.3% in the month.
How did global markets perform this week?
| Asset | Fri., Oct. 9 | Fri., Oct. 16 | Weekly change |
|---|---|---|---|
| S&P 500 | 7,811.54 | 7,659.44 | −1.95% |
| Nasdaq Composite | 27,366.17 | 26,140.03 | −4.48% |
| Dow Jones Industrial Average | 51,654.95 | 52,002.41 | +0.67% |
| STOXX Europe 600 | 631.55 | 644.74 | +2.09% |
| Nikkei 225 (Japan) | 69,030.92 | 65,324.29 | −5.37% |
| Kospi (South Korea) | 6,625.93 (Oct. 8) | 5,668.05 | −14.46% |
| Hang Seng (Hong Kong) | 24,211.35 | 24,186.83 | −0.10% |
| Shanghai Composite | 3,813.79 | 3,716.28 | −2.56% |
| U.S. 10-year Treasury yield | 5.24% | 5.09% | −0.15 pt |
| Dollar index (DXY) | 102.21 | 101.79 | −0.41% |
| USD/JPY | 158.06 | 157.97 (approx.) | −0.06% |
| Gold futures ($/ounce) | 4,216.30 | 4,188.50 (approx.) | −0.66% |
| Brent crude futures ($/barrel) | 104.72 | 109.86 (settle) | +4.9% |
| WTI crude futures ($/barrel) | 91.85 | 101.41 (settle) | +10.4% |
| Bitcoin ($) | 82,546 | 81,622 (approx.) | −1.12% |
Sources: Yahoo Finance daily chart data; the 10-year yield is the Treasury Department par yield. Korea was closed Oct. 9 and Japan Oct. 12 for holidays, and the Treasury market was closed Oct. 12. USD/JPY uses Yahoo's daily London-time bar for Oct. 9 and a level around 4:50 p.m. ET Friday. Oil, gold and bitcoin Friday figures are levels around 4:40 to 4:50 p.m. ET, not settlements. Bitcoin's Oct. 9 figure is the close at midnight UTC.
On Friday alone, the S&P 500 fell 1.09%, the Nasdaq about 2.1% and the Dow 0.34%. The Cboe Volatility Index jumped 21% to 19.99. Yahoo Finance said software and chip stocks led the decline as investors rotated into defensive sectors such as health care. For the background on the chip rout, see our chip stock selloff analysis.
Why did oil prices rise?
Brent touched $110 a barrel for the first time since May on Friday, Yahoo Finance reported, attributing the move to escalated Iranian attacks in the Strait of Hormuz. Brent settled at $109.86, up 3.7% on the day, and WTI settled at $101.41, its highest since Sept. 17, Reuters reported. For the week, Brent rose 4.9% and WTI 10.4%, according to Reuters.
What did this week's U.S. economic data show?
Inflation ran hot, and spending and output held up.
| Release (September data) | Result | Source |
|---|---|---|
| Consumer price index | +0.6% m/m, +3.7% y/y; core +2.6% y/y | Bureau of Labor Statistics, Oct. 14 |
| Producer price index, final demand | +1.3% m/m, +6.3% y/y | Bureau of Labor Statistics, Oct. 15 |
| Retail and food services sales | +0.8% m/m to $745.0 billion | Census Bureau, Oct. 15 |
| Import prices | +1.1% m/m, +8.1% y/y | Bureau of Labor Statistics, Oct. 16 |
| Industrial production | +0.7% m/m; capacity use 76.9% | Federal Reserve, Oct. 16 |
Energy drove much of it. Gasoline prices rose 9.1% in September and accounted for more than half of the monthly CPI increase, the Bureau of Labor Statistics said. Import fuel prices rose 4.8% in the month. The Fed said utilities output rose 3.5%. Our CPI market reaction analysis covers how the dollar, gold and bitcoin traded on the report.
What comes next?
China reports third-quarter GDP on Monday, Oct. 19, and the Federal Reserve meets Oct. 27–28. Our global markets week ahead has the full calendar, and live levels are on the world markets page.
Sources
- Yahoo Finance chart data: S&P 500, Nasdaq Composite, Dow, VIX, STOXX Europe 600, Nikkei 225, Kospi, Hang Seng, Shanghai Composite, dollar index, USD/JPY, gold, Brent, WTI and bitcoin
- U.S. Treasury Department, Daily Treasury par yield curve rates, 2026
- Yahoo Finance, Stock market today: Tech sell-off weighs on stocks to end volatile week
- U.S. Bureau of Labor Statistics, Consumer Price Index, September 2026
- U.S. Bureau of Labor Statistics, Producer Price Index, September 2026
- U.S. Bureau of Labor Statistics, U.S. Import and Export Price Indexes, September 2026
- U.S. Census Bureau, Advance Monthly Sales for Retail and Food Services, September 2026
- Federal Reserve, G.17 Industrial Production and Capacity Utilization
- Reuters via Investing.com, Oil prices settle higher; Brent at highest since May 19 (Oct. 16, 2026)