Stock Market Today (Oct. 16, 2026): S&P 500 edges higher as tech stocks struggle Rob Lenihan, Noah Weidner Fri, October 16, 2026 at 10:11 AM EDT 2 min read ^IXIC -0.66% This live blog is refreshed throughout the day with the latest updates from the market. To find the latest Stock Market Today threads, click here.
Happy Friday. Stocks were mixed Friday as Wall Street looked to recover from another tech sell-off.
Markets finished higher Thursday as Treasury yields retreated and chip stocks pared losses following an AI-driven sell-off.
"Global equity markets are ending a difficult week on a more stable footing, but the divergence between regions has been interesting," said Daniela Hathorn, senior market analyst with Capital.com.
"US and Asian equities have borne the brunt of the sell-off, after hotter US CPI pushed Treasury yields higher and renewed concerns about the financing behind the AI boom."
Hathorn said the Nasdaq has been particularly vulnerable as investors question whether future AI returns can justify both elevated valuations and increasingly expensive borrowing costs.
Shares of cloud-computing provider CoreWeave (CRWV) were down 4.15% in premarket trading.
The loss-making cloud company has about $50 billion in debt and has become a focus of concerns that the data-center boom is being fueled by credit, straining newer players and pressuring cash flows even at giants such as Alphabet (GOOGL) and Meta Platforms (META), according to Reuters.
CoreWeave's slump fueled a global rout in AI stocks, underscoring investor doubts about whether future revenue from the technology can keep pace with the spending.
Nvidia CEO Jensen Huang, whose company is CoreWeave's second-largest investor with about a 10% stake, played down the fears.
"CoreWeave's financial strength is improving every day," Huang told reporters at a Stockholm event, adding that he does not see a need for Nvidia to backstop the company. "I'm optimistic. Their cost of capital is actually decreasing."
Hathorn said Huang's comments may have reduced the sense of immediate crisis, "but upcoming Big Tech earnings will still need to demonstrate that the enormous investment in AI is translating into sufficient revenue and cash flow to justify the cost."
This story was originally published by TheStreet on Oct 16, 2026, where it first appeared in the Stock Market Today section. Add TheStreet as a Preferred Source by clicking here.
