Stories
US Stocks Head for Weekly Loss as Chip Shares Slide and Inflation Worries Mount
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CNBC TV18•16-10-2026, 19:38
US Stocks Head for Weekly Loss as Chip Shares Slide and Inflation Worries Mount
- •The S&P 500 and Nasdaq were on track for weekly losses due to a sell-off in semiconductor and AI-related stocks, while the Dow Jones Industrial Average headed for a weekly gain.
- •Semiconductor stocks extended declines with the VanEck Semiconductor ETF falling nearly 9% for the week amid competition concerns from China.
- •Investors are preparing for a fresh batch of corporate earnings next week from major tech and consumer-facing companies to gauge business spending and demand.
- •Tesla shares rose 3% following the unveiling of its next-generation Roadster, and Netflix appointed former Disney executive Peter Rice as its new chief content officer.
- •KFC switched its US beverage partner to Coca-Cola, ending a four-decade relationship with PepsiCo as persistent inflation and elevated energy prices remain in focus.
Key Questions Answered
The S&P 500 and Nasdaq are tracking toward weekly losses following a significant sell-off in semiconductor and AI-related stocks as investors weigh concerns over trade financing and competition.
KFC signed Coca-Cola as its beverage partner for US outlets, concluding a relationship with PepsiCo that lasted nearly four decades.
On Friday, October 16, US stocks were mixed with the Dow Jones Industrial Average rising 0.5%, the S&P 500 slipping 0.1%, and the Nasdaq Composite falling 0.6%.
