Nasdaq sell-off extends; Semiconductor ETF posts worst week in 18 months while Cboe VIX jumps
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Wall Street indices fell on Friday, October 16, as investors sold off AI and semiconductor stocks.
- ✓The Nasdaq dropped 2.1%, while the VanEck Semiconductor ETF posted its worst week in 18 months.
- ✓Market fear rose as the Cboe VIX jumped past 22.
Story at a Glance
- Category
- MARKET
- Reported By
- cnbctv18
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Benchmark indices on Wall Street had another down day on Friday, October 16, as AI and semiconductor-linked stocks continued to see investor exits, while a rise in crude oil prices further soured sentiment.
The Dow Jones ended 175 points lower on Friday, outperforming its tech-heavy peers S&P 500 and Nasdaq, and also managing to post a weekly advance of 0.7%. The S&P 500 ended 1.1% lower, while the Nasdaq Composite declined 2.1%. The chip stocks-heavy Nasdaq 100 index ended the session with losses of 2.5%.
For the week, the Nasdaq ended 4% lower, marking its worst weekly drop since June. The S&P 500 also posted a 2% weekly loss. Fears of competition from China and the struggles over debt repayments of companies engaged in massive data center buildouts, dragged the VanEck Semiconductor ETF down 3% on Friday and 10% for the week, the most it has falling weekly since April 2025.
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