Economy / Markets
October erases more than $2 trillion from the Nasdaq 100 as doubts about AI spending bite
The Nasdaq Composite fell 2.86% to 25,437.00 on Friday, the S&P 500 lost 1.82% to 7,580.07 and the Dow dropped 1.09% to 51,770.31, leaving the S&P 500 with a third straight weekly loss. Reuters calculated that more than $2 trillion of Nasdaq 100 market value was set to disappear in October, slightly more than SpaceX's entire market value, while the index closed the month down 5.3%, its worst since March 2025.