A sharp retreat in artificial intelligence-related shares pulled major stock indexes lower on 22 October, with selling reaching markets in Asia, Europe and the United States.

The Nasdaq Composite closed down 2.6 per cent, while the S&P 500 fell 1.2 per cent, according to the Associated Press. The Dow Jones Industrial Average finished marginally higher.

Reuters reported that Meta’s quarterly announcement renewed concerns about the industry’s financial commitments. Although revenue exceeded expectations, a proposal to issue non-voting stock added to unease about capital spending.

Losses were not confined to technology companies. Barron’s reported declines among businesses associated with supplying energy and infrastructure for the AI build-out, including GE Vernova and Bloom Energy.

Despite the headline index falls, most US shares rose. The divergence shows how weakness in a concentrated group of influential companies can outweigh broader gains.

Oil prices also increased, while US Treasury yields fell.

The session shows investors reassessing how large spending programmes will translate into earnings. With AI-linked companies carrying substantial market influence, that reassessment has consequences well beyond the technology sector.