# Tech Weakness Drags Nasdaq Lower

> AI spending fears push Nasdaq down as tech stocks fall.
- Title: Tech Weakness Drags Nasdaq Lower · The Motley Fool | Shortify
- Summary: AI spending fears push Nasdaq down as tech stocks fall. Nasdaq dropped 2.18% to 26,121 on tech weakness amid AI spending concerns.
- Keywords: nasdaq, tech weakness, ai spending concerns, s&p 500, dow jones, meta platforms, nvidia, micron technology, tesla, spotify, labor department, alphabet
- Source: The Motley Fool — https://fool.com/coverage/stock-market-today/2026/10/22/stock-market-midday-oct-22-tech-weakness-drags-nasdaq-lower-as-ai-spending-concerns-mount
- Author: Emma Newbery
- Published: 2026-10-22T16:27:14+00:00
- Read time: 1 min
- Topics: nasdaq, tech weakness, ai spending concerns, s&p 500, dow jones, meta platforms, nvidia, micron technology, tesla, spotify, labor department, alphabet
## Market Moves
As of 11:35 AM ET, the S&P 500 is down 1.28% to 7,658, the Nasdaq Composite is down 2.18% to 26,121, and the Dow Jones Industrial Average slipped 0.23% to 52,736.
## AI Spending Concerns
Meta Platforms dragged indexes lower despite earnings beat as AI spending fears resurface, with Nvidia falling and memory stocks declining.
## Investor Impact
AI jitters and supply chain warnings triggered market drops, with investors urged to focus on long-term outlooks and monitor next week's earnings from Alphabet, Microsoft, and Amazon.
## Key takeaway

Nasdaq dropped 2.18% to 26,121 on tech weakness amid AI spending concerns.