Update: Nasdaq Falls to End Four-Week Winning Streak Amid Tech Sell-Off

04:54 PM EDT, 10/16/2026 (MT Newswires) -- (Updates with market moves at the end of the day, and other changes, if any.) The Nasdaq Composite plunged Friday, halting its four-week rally, amid a technology sell-off on Wall Street. The index declined 2.1% to 26,140.03. The S&P 500 fell 1.1% to 7,659.44, while the Dow Jones Industrial Average dropped 0.3% to 52,002.41. Among sectors, tech led the laggards, while energy paced the gainers. This week, the Nasdaq tumbled 4.5%, ending its four-week winning streak. That weekly performance marked the worst since June. The S&P 500 ended the week down 1.9% and the Dow gained 0.7%. Alphabet (GOOGL), Salesforce (CRM), Cisco Systems (CSCO), Microsoft (MSFT), Amazon (AMZN), and Nvidia (NVDA) were the biggest decliners on the Dow. Micron Technology (MU), Advanced Micro Devices (AMD) and Sandisk (SNDK) also fell. 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 mixed. The two-year rate fell 3.2 basis points at 4.72%, while the 10-year rate was unchanged at 5.09%. 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 jumped 3.4% to $109.53 a barrel in Friday late-afternoon trade, while West Texas Intermediate was 3.8% higher at $101.64. Both benchmarks were up for the week, with Brent on track for its fourth consecutive weekly increase. Saudi Arabia intercepted multiple missiles and drones on Friday, including a missile heading toward the oil export terminal Yanbu, CNBC reported, citing a military spokesperson. US lawmakers introduced a bill Friday to block President Donald Trump's deal to allow export of hundreds of millions of barrels of Russian diesel, Bloomberg News reported. Spot gold fell 0.1% to $4,166.56 per troy ounce, while silver remained steady at $57.14 per ounce.