---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000949989.md"
description: "U.S. stocks fell Thursday pre-mkt (SPX -1.1%, NDX -1.9%) on worries that heavy data-center and AI spending will take longer to pay off, raising valuation and concerns about an AI bubble. Brent crude rose to $112/bbl; the 10-year yield dropped 5.4 bp to 5.06% on safe-haven demand. Bitcoin, gold, and silver also declined. Tech shares dropped despite solid $Meta Platforms(META.US) and $Meta Platforms(META.US) results, with Tesla -5.3% after a hype-heavy call and a routine year-end Capex guidance cut; stocks of tech peers followed suit. S&P 2026 EPS estimates of $367 imply a 20.9x P/E and 4.8% yield, inverted versus Treasuries—echoing late-1990s dot-com conditions. 10yr treasury yields are expected to ease by year-end as the Iran conflict ends, restoring a normal equity risk premium. We remain cautious on $Tesla(TSLA.US) given its extended 2026 P/E of 230x vs +45% long-term EPS growth, negative earnings revisions, and continuing commoditization of autonomy."
datetime: "2026-10-22T09:56:42.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000949989.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000949989.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000949989.md)
author: "[Gary Black Tracker](https://longbridge.com/en/profiles/17077344.md)"
generator: "portal-rs"
---

# U.S. stocks fell Thursday pre-mkt (SPX -1.1%, NDX …


### Related Stocks

- [USO.US](https://longbridge.com/en/quote/USO.US.md)
- [SLV.US](https://longbridge.com/en/quote/SLV.US.md)
- [META.US](https://longbridge.com/en/quote/META.US.md)
- [.NDX.US](https://longbridge.com/en/quote/.NDX.US.md)
- [GLD.US](https://longbridge.com/en/quote/GLD.US.md)
- [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md)
- [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md)
- [EFIV.US](https://longbridge.com/en/quote/EFIV.US.md)
- [IVE.US](https://longbridge.com/en/quote/IVE.US.md)
- [IVV.US](https://longbridge.com/en/quote/IVV.US.md)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**