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U.S. stocks fall as oil prices rise and AI spending costs mount

The S&P 500 and Nasdaq fell by midmorning as oil rose and a filing showed Meta planning $825 billion in AI contracts.

Updated Oct 22, 2026 · 22:14 UTC3 reports

The short version

  • U.S. equity indexes fell Thursday, with the S&P 500 down 1.4% and the Nasdaq down 2.2% by midmorning.[NBC News]
  • Oil prices rose, with Brent crude up more than 2% in one report and about 3.7% in another, while WTI traded near $99 a barrel.[NBC News · CBS News]
  • Investors weighed AI spending: a regulatory filing showed Meta planning $825 billion in AI contracts, and Nvidia's Jensen Huang called AI capital scarce.[NBC News · CBS News]
  • Meta shares fell 7% after revenue topped estimates while profit fell short, and the cause of the oil move remains unclear.[CBS News]

Key facts

  • By midmorning Thursday, the S&P 500 was down 1.4% and the Nasdaq was down 2.2%.[NBC News]
  • NBC News reported that Brent crude rose more than 2% and U.S. crude gained more than 1%.[NBC News]
  • A separate regulatory filing indicated that Meta intends to spend an additional $825 billion on contracts related to its AI infrastructure buildout.[NBC News]
  • Nvidia CEO Jensen Huang said on CNBC that capital to finance the AI investment boom was becoming scarce due to higher interest rates and existing spending commitments.[NBC News]
  • The Brookings Institution estimates that developing AI infrastructure between 2025 and 2032 will cost more than $10 trillion.[CBS News]
  • Meta Platforms lost 7% after revenue topped estimates while profit fell short.[CBS News]
  • West Texas Intermediate was trading at $99.21 a barrel, up 2.1%, while Brent crude was trading at around $113 a barrel, up 3.7%.[CBS News]

What remains uncertain

  • The verified coverage does not establish what drove the oil price rise or how much each factor contributed to the market decline.[NBC News · CBS News]
  • Brent crude gains differ across outlets: NBC cites more than 2%, while CBS cites about 3.7% near $113, and neither report states a matching time.[NBC News · CBS News]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.