Equity Indexes Slide Intraday Amid Tech Sell-Off

01:57 PM EDT, 10/16/2026 (MT Newswires) -- US benchmark equity indexes slid intraday as several major technology names sold off. The Nasdaq Composite declined 1.9% to 26,199.2 intraday Friday, while the S&P 500 fell 1% to 7,664.2. The Dow Jones Industrial Average was down 0.5% to 51,928.6. Among sectors, communication services and technology led the laggards, while energy paced the gainers. Salesforce (CRM), Microsoft (MSFT), Cisco Systems (CSCO), Alphabet (GOOGL) and Amazon (AMZN) were the biggest decliners on the Dow. Micron Technology (MU), Advanced Micro Devices (AMD) and Sandisk (SNDK) were also falling. The S&P 500 and the Nasdaq Composite hit fresh closing highs Oct. 6, but the rally had been powered by only a few tech giants, suggesting underlying weakness on Wall Street. Many analysts fear a potential stock market correction as the majority of S&P 500 stocks have been hovering well below all-time highs. Treasury yields were higher intraday, with the two-year rate up 1.5 basis points at 4.77%, and the 10-year rate rising 2.3 basis points to 5.11%. US industrial production grew more than expected in September as manufacturing output rebounded despite weakness in the auto component, Federal Reserve data showed. Brent crude oil gained 3.1% to $109.24 a barrel, while West Texas Intermediate increased 2.9% to $100.79. Spot gold fell 0.3% to $4,158.46 per troy ounce, while silver increased 0.2% to $57.29 per ounce.