S&P 500 posts biggest weekly drop since June; Nasdaq 100 falls 2.5% on Friday

October 17 — According to Bloomberg's latest closing report, U.S. stocks fell on Friday (October 16), with the S&P 500 closing down 1.1%, its biggest weekly drop since June; the Nasdaq 100 fell 2.5% on the day, posting its worst weekly performance since April 2025.

A surge in oil prices reignited inflation concerns, while doubts about the sustainability of the AI investment boom continued to weigh on chip stocks. Cloud computing provider CoreWeave's shares plunged, further intensifying the tech sell-off.