# Sharp drops for AI stocks overwhelm markets worldwide as oil prices jump

- Source: Guardian World
- Published: 2026-10-22T21:50:13+00:00
- Category: World
- Original: https://www.theguardian.com/business/2026/oct/22/stock-markets-drop-ai-oil
- Canonical: https://groundlevelnews.com/story/sharp-drops-for-ai-stocks-overwhelm-markets-worldwide-as-oil-prices-ju-1abb7b/

Datacenter and chip costs fueled sharp decrease in AI sector although non-AI stocks still had a strong showing The latest shudder for stocks in the AI industry pulled markets lower worldwide on Thursday, while oil prices hit their highest levels since May on worries about the war with Iran . The S&P 500 fell 1.2% for its worst day since July, while the Nasdaq composite tumbled 2.6%. The weakness f

_Ground Level News shows a short summary only; the full article and all rights belong to Guardian World._