On October 16, 2026, the S&P 500 fell approximately 1.2% to close near 7,650, while the Nasdaq Composite dropped about 2.2% to finish near 26,128, logging its steepest weekly decline in 18 months. CoreWeave, the data center operator backed by Nvidia, saw its shares fall more than 10% on the day and are down nearly 25% across multiple trading sessions, with bond yields climbing past 15% as debt pressures mounted. The selloff was triggered by hotter-than-expected September inflation data, which revived expectations for further Federal Reserve rate hikes.
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