What Happened Today, Friday October 30, 2026, 5:00 PM ET close
Nasdaq 100 Sinks 3.45% and S&P 500 Falls 1.8% as Middle East Worries and Fed Talk Weigh
Tech led a broad pullback while headlines on Iran, the Strait of Hormuz and a more hawkish Fed voice kept investors cautious.
ES and NQ at the close
NQ, Nasdaq 100 futures
28,543.00
-3.45% on the day
Day range 28,232.75 to 29,180.00
ES, S&P 500 futures
7,614.50
-1.80% on the day
Day range 7,558.25 to 7,713.00
How did our Futures Trading Algo Do Today?
Discipline
No clean setup meant no trade, and staying flat is a valid result.
Our automated paper book stayed flat today and placed no trades on Nasdaq 100 or S&P 500 contracts, so there was no winning or losing strategy to report. The market moved sharply lower, but no setup met our entry rules, and we would rather skip a day than force a trade. Net result for the day was $0.
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The story
U.S. stocks fell sharply on Friday, with the Nasdaq 100 down 3.45% to 28,543 and the S&P 500 down 1.8% to 7,614.5. The bigger drop in the Nasdaq 100 shows that growth and technology shares took the brunt of the selling. News that Iran's naval force reported three tankers on fire in the Strait of Hormuz added to nerves about energy supply and global risk. A St. Louis Fed official also said tighter monetary policy is needed soon, which pressured shares that depend on lower interest rates.
The MAG7 and the megacaps
We do not have individual share prices for the biggest tech companies in today's data, so we will not guess at their moves. What we can say is that the Nasdaq 100, which leans heavily on the largest technology names, fell nearly twice as much as the S&P 500. That gap suggests the biggest growth stocks were a major part of the day's weakness.
After the bell
Tanker fires in the Strait of Hormuz
Iran's naval force said three tankers caught fire in the Strait of Hormuz. Because so much of the world's energy moves through that waterway, news like this raises worries about supply and pushes investors toward caution.
Fed official calls for tighter policy
St. Louis Fed President Musalem said tighter monetary policy is needed soon. Talk of higher interest rates tends to hurt growth and technology shares the most, which fits with the Nasdaq 100 falling more than the S&P 500.
Mixed signals on Iran diplomacy
Qatari mediators returned to Tehran, Pakistan's military was described as cautiously optimistic, and Trump said the conflict will be wrapped up soon. These hopeful notes did not stop the selloff, but a real deal could help calm markets.
Swiss central bank profit
The Swiss central bank reported a record style profit of $23 billion as gold and foreign assets rose. It is a side note for U.S. stocks, but it shows strength in gold and overseas holdings during an uneasy period.
Crypto
Bitcoin also slipped, closing at $76,684.98, down 1.4% on the day. It traded between $76,264.74 and $78,564.94, a smaller percentage move than the Nasdaq 100, so crypto held up a bit better than tech stocks on a rough Friday.
Into the night
Geopolitics stayed in focus. Reuters reported that Iran's naval force said three tankers caught fire in the Strait of Hormuz, a key shipping route for oil. At the same time, there were signs of diplomacy: Qatari mediators returned to Tehran to push for a deal between the US and Iran, a Pakistani military source was described as cautiously optimistic about mediation, and President Trump said the Iran conflict is going to get wrapped up soon. Headlines like these can move markets quickly in either direction, so expect continued swings.
What is coming next
Nasdaq 100 low
28,232.75
Friday's low, a level traders will watch to see if selling continues.
Nasdaq 100 high
29,180
Friday's high, the area the index needs to reclaim to show a rebound.
S&P 500 low
7,558.25
Friday's low, the first support level to watch on the broad market.
S&P 500 high
7,713
Friday's high, the level buyers need to retake to repair the damage.
After a drop this large, markets can stay choppy for a few sessions. Watch for updates on Iran talks and the Strait of Hormuz, plus any further comments from Federal Reserve officials about interest rates. 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 2026-10-30 session close; charts are live and interactive. Always verify before acting.