The Nasdaq drops 2.1% in Friday’s session on October 16, 2026, bringing its weekly decline to 4.5%, its worst week since June, according to the Wall Street Journal. The S&P 500 falls 1.1% the same day while the Dow Jones, down 0.3% on the session, still ends the week higher. Brent crude climbs to $109.86 a barrel, its highest level since May.
Wall Street: the Nasdaq hurt by artificial intelligence stocks
On Friday, stocks linked to artificial intelligence came under renewed pressure, driving the Nasdaq composite down 2.1% on the session. Over the course of the week, the technology index falls 4.5%, which the Wall Street Journal describes as the index’s worst week since June. The S&P 500 closes down 1.1% on Friday. The Dow Jones Industrial Average loses 0.3% on the day, but still posts a gain over the full week, buoyed by stocks less exposed to the technology correction.
Brent crude and the bond market: two opposite dynamics
Brent crude ended Friday’s session at $109.86 a barrel, up 3.7%, its highest level since May, according to the same Wall Street Journal live coverage. On the bond side, the yield on the 10-year US Treasury closed the week at 5.097%, capping its best week since February. This easing in yields comes as the bond market remains closed over the weekend, as it is every week, before trading resumes on Monday.
| Indicator | Change or level | Reference |
|---|---|---|
| Nasdaq composite (session) | -2.1% | October 16, 2026 |
| Nasdaq composite (week) | -4.5% | week of October 12 to 16, 2026 |
| S&P 500 (session) | -1.1% | October 16, 2026 |
| Dow Jones (session) | -0.3% | October 16, 2026 |
| Brent (close) | $109.86, +3.7% | October 16, 2026 |
| 10-year Treasury (yield) | 5.097% | close of the week of October 16, 2026 |
Kevin Warsh refuses any signal on the October rate decision
Federal Reserve Chair Kevin Warsh spoke at an International Monetary Fund event in Bangkok, where he explicitly declined to give any indication about the rate decision expected in October. He said: “I don’t prejudge meetings. I don’t think it’s appropriate to say now what I might do at the meetings we have left this year. This is a new chapter at the Fed, and we’re not in that mode anymore,” according to remarks reported by the Wall Street Journal.
It is worth noting that no decision probability is published by the Fed itself. The figure often cited in the press, a 15% probability attributed on Friday morning to a rate hike at the October meeting, comes from a private futures market, the fed funds futures, and not from an official communication by the institution, as CNBC points out. For a closer look at what this type of expectation actually measures, WeGetFunded’s article on the FOMC minutes from October 7 already details the internal divisions weighing on these market expectations.
Monday, October 19 agenda: Canadian CPI and Bank of Canada survey
Statistics Canada will publish its September consumer price index on Monday, October 19, 2026, as the agency confirmed in its official release calendar. No forecast or consensus figure is provided in advance by Statistics Canada for this release.
The same day, the Bank of Canada will release at 11:30 a.m. Eastern time its Business Outlook Survey along with the Canadian Survey of Consumer Expectations, according to the Bank of Canada’s release announcement. This quarterly survey is based on interviews conducted by the Bank’s regional offices with around a hundred business leaders, selected according to the composition of Canada’s gross domestic product.
Frequently asked questions
Why does the Nasdaq drop more than the Dow Jones?
The Nasdaq is heavily concentrated in technology stocks, including those linked to artificial intelligence, which came under marked selling pressure on Friday. The Dow Jones, made up of more diversified stocks, held up better over the week despite a one-day decline of 0.3% on the same day.
Does the 15% figure on a rate hike come from the Fed?
No. This figure comes from a private futures market, the fed funds futures, and reflects market participants’ expectations, not a communication from the Federal Reserve. Kevin Warsh himself declined to give any signal during his appearance in Bangkok.
Why did the 10-year Treasury yield fall this week?
The 10-year Treasury yield closed the week at 5.097%, capping its best bond market week since February, which reflects a rise in bond prices over the period, though the sources consulted do not detail the precise causes any further.
What is the Bank of Canada publishing on October 19?
It will release at 11:30 a.m. Eastern time its Business Outlook Survey and the Canadian Survey of Consumer Expectations, two quarterly publications based on interviews with Canadian business leaders and households.