Wall Street falls as tech sector pressures mount

Wall Street closed lower on Friday, October 16, 2026, as investors reduced technology exposure amid concerns over AI investment funding, while rising oil prices weighed on sentiment. The tech-heavy Nasdaq fell 2.15% to 26,140.03 points, marking its first losing week in five with a 4.5% drop. The S&P 500 declined 1.09%, and the Dow Jones slipped 0.34%. Semiconductor stocks faced particular pressure. Brent crude rose 3.7% to $109.86 per barrel on Middle East supply worries. The 10-year Treasury yield fell to 5.097% weekly. Fed Chair Kevin Worsh gave no clear rate signal, with October hike odds at 13%.