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Daily market update

US market update: Nasdaq falls 1.35% in afternoon trading as Meta and Microsoft slip

The Nasdaq Composite was down 1.35% in Friday afternoon trading, with the Dow almost flat and the pound up 0.71% against the dollar.

16 Oct 2026, 17:311 min readLedgerPoint editorial team

US shares were mixed-to-lower on Friday afternoon, with the tech-heavy Nasdaq Composite falling furthest of the three main indices. All three were still trading at the time of writing, so these figures may change before the close.

Indices

  • S&P 500: was trading at 7,697.84, down 0.6% on the previous close.
  • Dow Jones: was trading at 52,129.73, down 0.09%.
  • Nasdaq Composite: was trading at 26,351.14, down 1.35%.
  • GBP/USD: was at $1.3324, up 0.71%. A stronger pound means US assets are worth slightly less in sterling terms for UK holders.

Stock movers

These are the moves among the seven large US companies we track. All were still trading.

Risers

  • Apple: $344.88, up 0.84%. This was the largest gain among the stocks we track.
  • Nvidia: $217.36, up 0.06%, so broadly flat.

Fallers

  • Meta Platforms: $718.26, down 2.51%. This was the largest fall among the stocks we track.
  • Microsoft: $528.86, down 1.96%.
  • Alphabet: $343.26, down 1.71%.
  • Tesla: $356.63, down 1.6%.
  • Amazon: $252.42, down 0.92%.

In the news

  • Headlines this afternoon report that the Nasdaq is struggling with tech losses on Friday.
  • One headline suggests the Dow is outperforming the Nasdaq again, describing an "AI stock unwind" that has Wall Street piling into blue-chip stocks.
  • A weekly review headline reports that the stock market has been divided this week. It says the key indexes were testing or breaking key levels amid AI financing fears and tumbling Treasury yields.

In short, the Nasdaq was underperforming the Dow in Friday afternoon trade, while the pound firmed against the dollar.

Figures are indicative and may be delayed. This is general information, not advice.

This content is general information, not personal financial advice. Tax rules, rates and allowances can change; check the latest position on gov.uk.