Worldwide drops for AI stocks send Wall Street toward its worst day since July

Global AI-related stock declines dragged markets lower on Thursday, with the S&P 500 falling 1.4 percent in New York as oil prices rose amid worries about the war with Iran. The Nasdaq composite dropped 2.8 percent, while the Dow Jones Industrial Average was down 0.2 percent. Investors were concerned about the cost of financing AI infrastructure and high stock valuations, even as several companies reported stronger-than-expected results. Brent crude rose 3.7 percent to $112.80 a barrel.

Lam Research reported summer profit and revenue slightly above analysts’ expectations, but its shares fell 11.6 percent after its quarterly profit forecast midpoint came in slightly below expectations.

Meta Platforms shares fell 7.9 percent after the company reported stronger-than-expected quarterly revenue but lower-than-expected profit, and said it was creating a new class of stock to raise money for AI investments and other expenses.

Tesla shares declined 2.6 percent despite reporting summer profit above analysts’ expectations; its revenue was weaker than forecast.

The Kospi fell 3.5 percent, Hong Kong’s Hang Seng dropped 3 percent and Japan’s Nikkei 225 sank 2.7 percent.

The 10-year U.S. Treasury yield fell to 4.96 percent from 5.13 percent late Wednesday, as investors sought safer assets while AI stocks tumbled.

Published Oct 23, 2026 4:06 am KST

A trader works on the floor of the New York Stock Exchange (NYSE) before the closing bell in New York, New York, Oct. 16. EPA-Yonhap

NEW YORK — Drops for stocks in the artificial-intelligence industry are dragging markets down worldwide on Thursday, while oil prices hit their highest levels since May on worries about the war with Iran.

The S&P 500 fell 1.4 percent toward its worst day since July, while the Nasdaq composite tumbled 2.8 percent. The weakness for tech stocks was so overwhelming that it masked strength for the rest of the market, where the majority of U.S. stocks actually rose. The Dow Jones Industrial Average was down only a modest 0.2 percent, or 113 points, as of 2:30 p.m. Eastern time.

AI-related stocks have become shaky on worries that their boom may be under threat because of how expensive it’s become to borrow money to build data centers and buy more AI chips. Concerns also remain that their prices shot too high following a yearslong frenzy, even though companies in the industry continue to report growth.

Lam Research, whose equipment and services help make semiconductors, reported gains in profit and revenue for the summer that were slightly stronger than analysts expected, for example. Usually, that helps boost a stock’s price, but Lam Research’s tumbled 11.6 percent.

It gave a range for its forecast for profit this quarter whose midpoint was slightly below analysts’ expectations. Its stock also came into the day with a 52.4 percent surge for the year so far, nearly quadruple the gain for the overall S&P 500, leaving plenty of room for potential disappointment.

Other big tech stocks likewise fell following their own quarterly reports that included at least some encouraging nuggets.

Meta Platforms, which is pushing its Muse AI agent, lost 7.9 percent after reporting stronger revenue for the latest quarter than analysts expected, though its profit fell short. The company behind Facebook and Instagram also said it’s creating a new class of stock to raise money to pay for AI investments and other expenses.

Tesla fell 2.6 percent after reporting a stronger profit for the summer than analysts expected, though its revenue was weaker than forecast.

The global tide against AI stocks knocked Nvidia down 4.3 percent. Because it’s the largest stock on Wall Street by total value, the chip giant was the heaviest weight on the S&P 500.

CoreWeave, which has borrowed money to buy Nvidia’s AI chips that it rents out to customers over the cloud, has been particularly shaky in recent weeks because of worries about its debt. It dropped 11 percent.

The weakness for AI and other tech stocks began in Asia, where indexes are full of AI industry players. South Korea’s Kospi tumbled 3.5 percent, Hong Kong’s Hang Seng dropped 3 percent and Japan’s Nikkei 225 sank 2.7 percent.

Also weighing on global stock markets was a jump in oil prices.

The price for a barrel of Brent crude oil rose 3.7 percent to $112.80 after touching its highest level in five months. It’s shot up from less than $97 at the start of the month on uncertainty about when the war with Iran will allow the global energy industry to return to normal.

In Europe, France’s CAC 40 stock index fell to one of the continent’s sharpest losses with a drop of 1.4 percent. It has fewer tech stocks than Asian or U.S. indexes, but it was hurt by another jump in yields for French government bonds.

Yields have been generally climbing there because of worries about the government’s big debt load and strained budget. Violent protests across France have raised pressure on the government to increase spending, which could add further to its debt.

Worries about big government debt are weighing on almost every developed economy in the world, including the United States. Such concerns have pushed yields in the U.S. bond market to their highest levels in decades, along with high inflation, signals of a still-strong U.S. economy and other factors.

But U.S. yields nevertheless fell sharply Thursday in a signal that investors were buying U.S. government bonds in search of something safer to own as AI stocks tumbled.

The yield on the 10-year Treasury tumbled to 4.96 percent from 5.13 percent late Wednesday and from more than 5.30 percent earlier this month. That’s a major move for the bond market.

Thursday’s drop in yields came even as another report suggested the U.S. economy may be doing better than economists expected. It said fewer U.S. workers applied for unemployment benefits last week, which could signal that layoffs remain low across the country.

That solid economy has helped U.S. companies broadly to make bigger profits, which is what propelled the U.S. stock market to a record high earlier this month despite the many worries tugging at it. Nearly two out of every three stocks within the S&P 500 rose Thursday, only to get drowned out by the drops for more influential tech stocks.

Procter & Gamble, Lockheed Martin and CSX were among the latest companies to join the list of those topping profit expectations for the summer, and gains for their stocks helped limit the market’s losses on Thursday.

CEO Shailesh Jejurikar said Procter & Gamble expects “geopolitical and economic challenges” to continue, but it stood by its forecasts for growth in revenue, profit and other measures for the full year. The stock price for the company behind the Crest, Olay and Oral-B brands rose 6 percent.

周四，全球人工智能相关股票下跌拖累大盘走低，标普500指数在纽约下跌1.4%，原因是市场担忧伊朗战争，油价上涨。纳斯达克综合指数下跌2.8%，道琼斯工业平均指数下跌0.2%。尽管多家公司公布的业绩好于预期，但投资者仍担忧人工智能基础设施的融资成本和过高的股票估值。布伦特原油价格上涨3.7%，至每桶112.80美元。

Lam Research公布的夏季利润和收入略高于分析师预期，但由于其季度利润预测中值略低于预期，该公司股价下跌了11.6%。

Meta Platforms 股价下跌 7.9%，此前该公司公布的季度营收强于预期，但利润低于预期，并表示将创建一种新的股票类别，以筹集资金用于人工智能投资和其他支出。

尽管特斯拉公布的夏季利润超出分析师预期，但其股价仍下跌了2.6%；其营收低于预期。

韩国综合股价指数下跌3.5%，香港恒生指数下跌3%，日本日经225指数下跌2.7%。

由于人工智能股票暴跌，投资者寻求更安全的资产，10 年期美国国债收益率从周三晚些时候的 5.13% 跌至 4.96%。

发布于2026年10月23日凌晨4:06（韩国标准时间）

10月16日，纽约，纽约证券交易所（NYSE）收盘前，一名交易员在交易大厅工作。图片来源：EPA-Yonhap

纽约——周四，人工智能行业股票下跌拖累全球市场走低，而由于担心与伊朗的战争，油价升至 5 月以来的最高水平。

标普500指数下跌1.4%，逼近7月以来最大单日跌幅，纳斯达克综合指数下跌2.8%。科技股的疲软表现掩盖了其他板块的强劲涨势，事实上，大多数美国股票都出现了上涨。截至美国东部时间下午2:30，道琼斯工业平均指数仅小幅下跌0.2%，即113点。

由于建设数据中心和购买人工智能芯片的借贷成本日益高昂，人们担心人工智能领域的繁荣可能会受到威胁，因此人工智能相关股票走势震荡。此外，尽管业内公司持续报告增长，但人们仍然担心，经过多年的狂热追捧，这些股票的价格已经涨得太高。

例如，为半导体制造提供设备和服务的Lam Research公司公布的夏季利润和营收增长略高于分析师预期。通常情况下，这会提振股价，但Lam Research的股价却下跌了11.6%。

该公司给出了本季度盈利预测区间，其中值略低于分析师的预期。此外，该公司股价今年迄今已累计上涨52.4%，几乎是标普500指数整体涨幅的四倍，这意味着其盈利仍有很大的提升空间，可能令人失望。

其他大型科技股也纷纷下跌，此前它们发布的季度财报中包含了一些令人鼓舞的消息。

Meta Platforms公司主推其人工智能助手Muse，尽管最新季度营收超出分析师预期，但利润却不及预期，该公司股价仍下跌7.9%。这家Facebook和Instagram的母公司还表示，将发行一种新的股票，以筹集资金用于人工智能投资和其他支出。

特斯拉公布夏季盈利强于分析师预期，但营收低于预期，股价下跌 2.6%。

全球对人工智能股票的悲观情绪导致英伟达股价下跌4.3%。由于它是华尔街市值最大的公司，这家芯片巨头对标普500指数的拖累最大。

CoreWeave曾借钱购买英伟达的AI芯片，并通过云端将其出租给客户。由于债务问题，该公司近几周来股价波动剧烈，下跌了11%。

人工智能和其他科技股的疲软始于亚洲，亚洲的股指中充斥着人工智能行业的公司。韩国综合股价指数下跌3.5%，香港恒生指数下跌3%，日本日经225指数下跌2.7%。

油价飙升也对全球股市造成了压力。

布伦特原油价格上涨3.7%，至每桶112.80美元，此前曾触及五个月来的最高水平。由于伊朗战争何时才能结束、全球能源行业恢复正常尚不明朗，布伦特原油价格从月初的不足97美元飙升至如今的水平。

在欧洲，法国CAC 40指数跌幅达1.4%，成为欧洲大陆跌幅最大的指数之一。虽然该指数的科技股占比低于亚洲或美国指数，但法国国债收益率的再次飙升也是其下跌的主要原因。

由于市场担忧政府巨额债务和捉襟见肘的预算，这些国家的债券收益率普遍攀升。法国各地爆发的暴力抗议活动加大了政府增加支出的压力，这可能会进一步加剧其债务负担。

对巨额政府债务的担忧正笼罩着包括美国在内的几乎所有发达经济体。这种担忧，加上高通胀、美国经济依然强劲的信号以及其他因素，已将美国债券市场收益率推至数十年来的最高水平。

但周四美国国债收益率仍然大幅下跌，这表明随着人工智能股票暴跌，投资者正在买入美国国债，寻求更安全的投资标的。

10年期美国国债收益率从周三晚些时候的5.13%暴跌至4.96%，而本月初该收益率曾超过5.30%。这对债券市场而言是一个重大波动。

尽管另一份报告显示美国经济可能好于经济学家的预期，但周四的收益率仍然下跌。报告称，上周申请失业救济金的美国工人人数减少，这可能表明全国范围内的裁员人数仍然很低。

强劲的经济形势帮助美国企业普遍获得了更高的利润，这推动美国股市在本月初创下历史新高，尽管面临诸多担忧。标普500指数成分股中，近三分之二的股票周四上涨，但涨幅却被更具影响力的科技股的下跌所掩盖。

宝洁、洛克希德·马丁和CSX等公司是最新一批夏季盈利超出预期的公司，它们的股价上涨帮助限制了周四市场的跌幅。

宝洁公司首席执行官沙伊莱什·杰朱里卡尔表示，公司预计“地缘政治和经济挑战”将持续存在，但公司仍维持对全年营收、利润和其他指标增长的预期。旗下拥有佳洁士、玉兰油和欧乐B等品牌的宝洁公司股价上涨了6%。