What Happened Today, Thursday October 22, 2026, 5:00 PM ET close
Nasdaq 100 Sinks 3.04% While S&P 500 Slips 1.24% in a Tech-Led Rout
Growth stocks took the brunt of the pain on Thursday, and Bitcoin fell right along with them.
ES and NQ at the close
NQ, Nasdaq 100 futures
29,094.75
-3.04% on the day
Day range 29,033.00 to 29,993.25
ES, S&P 500 futures
7,703.75
-1.24% on the day
Day range 7,676.75 to 7,798.75
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Staying flat on a fast, one-directional day is a valid decision, not a missed opportunity.
Our automated paper book stayed flat today. No strategies fired on NQ or ES, so there is no best or worst trade to report and net profit and loss was $0. The market moved sharply lower with few clean setups, and the system only acts when its rules are met.
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The story
US stocks had a rough Thursday, and technology shares took the worst of it. The Nasdaq 100 futures fell 3.04% to close at 29,094.75, while the S&P 500 futures lost 1.24% to finish at 7,703.75. The Nasdaq swung from a high of 29,993.25 to a low of 29,033.00 and closed very near the bottom of that range, which shows sellers stayed in control into the finish. The gap between the Nasdaq and the broader S&P 500 points to a selloff concentrated in growth and tech names rather than across the entire market.
The MAG7 and the megacaps
The biggest tech names carry a large share of the Nasdaq 100, so a 3.04% drop in the index usually means the mega-cap group was under heavy pressure. We do not have individual share prices for each of the Magnificent 7 in today's data, so we are not quoting single-stock moves. The takeaway is that when these giants fall together, they pull the whole index down with them, which is why the Nasdaq lagged the S&P 500 by such a wide margin today.
After the bell
A tech-heavy selloff
CNBC described a perfect storm behind the Nasdaq's rout, and the numbers back that up. The Nasdaq 100 lost 3.04%, more than double the S&P 500's 1.24% decline, so the damage was concentrated in growth stocks.
Rising Middle East tensions
The IRGC Navy said seven vessels were hit and warned the US of a wider response. Headlines like this tend to make investors less willing to hold riskier assets.
Sanctions and enforcement news
Greece said it is implementing Iran-linked sanctions, Germany revoked the license of Bank Saderat Iran in Hamburg, and a US regulator is looking into suspicious Iran oil trading. Together these add to a sense of tightening pressure.
A weaker global growth outlook
The IMF said Middle East, North Africa and Pakistan GDP is set to contract 1.3% in 2026. A softer outlook for the region adds to worries about the wider global economy.
Crypto
Bitcoin fell 3.08% to close at $81,423.93. It traded between a high of $84,280.19 and a low of $80,948.71, so it spent the day sliding toward the bottom of its range. The decline lined up almost exactly with the Nasdaq's drop, a reminder that crypto often trades like a risk-sensitive tech asset when investors turn cautious.
Into the night
Geopolitical headlines stayed in focus. Reuters reported that Iran's IRGC Navy said seven vessels were hit and warned the US of a wider response, and a US regulator is probing suspicious Iran oil trading. Greece said it is implementing sanctions linked to Iran, and a German regulator revoked the Hamburg license of Bank Saderat Iran. Separately, the IMF said it expects the economies of the Middle East, North Africa and Pakistan to contract 1.3% in 2026. Investors watching these stories may stay cautious until the situation becomes clearer.
What is coming next
Nasdaq 100 low
29,033.00
Today's low and the first level to watch for a further slide.
Nasdaq 100 high
29,993.25
Today's high, which marks where buyers gave way during the session.
S&P 500 range
7,676.75 to 7,798.75
Today's low and high, with the close at 7,703.75 near the bottom.
Bitcoin low
$80,948.71
Today's low, close to where the coin finished at $81,423.93.
After a drop this large, the next session often shows whether sellers are tired or still in charge. Watch whether the Nasdaq 100 can hold above today's low of 29,033.00 and whether Middle East headlines calm down or escalate. This recap is for education only and is not financial advice.
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Educational market recap, not financial advice. Futures and options trading carry substantial risk of loss. Prices reflect the 2026-10-22 session close; charts are live and interactive. Always verify before acting.