Wall Street Slides as Brent Hits $112: Nasdaq 100 Falls 1.6% to Its Channel Floor, CAC 40 Sinks on French Yields Above 5%, FTSE Holds Flat | Technical Analysis – Index Report | 22 Oct 2026
Indices Today | Thursday 22 October 2026
Wall Street Slides as Brent Hits $112: Nasdaq 100 Falls 1.6% to Its Channel Floor, CAC 40 Sinks on French Yields Above 5%, FTSE Holds Flat
Market Overview
What has already happened. Stocks fell across most of the world on Thursday as oil and AI-spending worries met a firmer rate outlook. In Asia, the Nikkei 225 closed 2.65% lower at 62,907.84, its lowest close in nearly three months, after chip and AI shares were sold; Tokyo Electron, SoftBank, Advantest and Kioxia each lost 6–7%. Oil set the tone before Europe opened: Brent reached $112.17 at 08:18 GMT, its highest since May, after Houthi strikes on a Saudi airport and an Aramco field, and the jump fed inflation fears. In Europe, the CAC 40 fell about 1.6% by 10:00 GMT after France’s 10-year yield rose above 5% and passed the US yield for the first time since 2013, while the FTSE 100 opened about 0.8% lower and then recovered to flat as banks gained on hotter UK inflation of 3.5%. In the US, S&P 500 futures fell about 1% and Nasdaq futures about 1.6% before the open, with Meta and Tesla leading tech lower despite upbeat earnings headlines, while jobless claims fell to 194,000.
Where markets stand now. At about 13:50 GMT, roughly 20 minutes after the Wall Street open and with Europe still trading, the S&P 500 is at 7,695.96 (−0.79%), the Nasdaq 100 at 29,349.96 (−1.58%), the FTSE 100 at 10,753.79 (+0.01%) and the CAC 40 at 7,843.61 (−0.99%). The Nikkei 225 is closed at 62,907.84 (−2.65%). The US 10-year yield has eased to about 5.05–5.08% and the dollar index to 101.58, its weakest since 1 October, but France’s 10-year yield remains above 5% at 5.089%, which keeps the CAC 40 under pressure.
What comes next. US flash PMIs (13:45 GMT) and the UMich consumer survey (14:00 GMT) are due on Friday 23 October, and Tokyo reopens the same day with the Nikkei testing its 62,300 floor. US PCE inflation follows next week, and the Fed will announce its decision on Wednesday 28 October at 18:00 GMT. Economists expect a hold, with futures putting a hike near 13% for October and about 89–91% for December. French bond yields and Gulf headlines remain the ongoing risks.
Our read. We read the session as an AI-capex and oil-driven sell-off in growth indices, a French-debt drag on Paris and a defensive hold in London. The Nikkei has broken a triangle floor, the Nasdaq 100 and CAC 40 sit under all three averages, and the FTSE 100 is the only index above its averages, so the Nasdaq 100 channel floor near 29,050 is the key test in the US today.
Key highlights
- S&P 500: Price is 7,695.96 between the 7,704 and 7,604 averages; 7,604 is the key floor and RSI is 47.78.
- Nasdaq 100: Price is 29,349.96 under all three averages at the floor of a rising channel; RSI is 40.46 and 29,050 is the line to hold.
- FTSE 100: Price is 10,753.79 above its averages and under the 10,800 triangle roof; RSI 54.82 is the firmest of the five.
- CAC 40: Price is 7,843.61 under the 7,889 average with French yields above 5%; 7,665 is the October low.
- Nikkei 225: Price closed at 62,907.84 below the broken triangle floor; RSI is 36.59 and 62,300 is the next floor.
What’s Moving Indices Today
Nikkei closes 2.65% lower at 62,908 as AI and chip shares are sold
Japan’s index closed at its lowest in nearly three months as investors questioned whether heavy AI spending will pay off, with Brent above $110 adding inflation worries. Instaforex reported Tokyo Electron down about 7%, SoftBank about 6.9%, Kioxia 6.8% and Advantest 6%. Reuters quoted Nomura strategist Wataru Akiyama saying the market is looking out to 2027 and is cautious on AI capex.
Houthi strikes on Saudi Arabia lift Brent to about $112
Brent reached $112.17 by 08:18 GMT, its highest since May, after Houthi attacks on a Dammam airport and an Aramco oil field, and the US ordered some diplomats out of Saudi Arabia. WTI was near $99–100. Higher oil is stoking inflation fears and keeping Treasury yields near 5%, which weighs most on growth-heavy indices such as the Nasdaq 100 and Nikkei.
Wall Street slips as Meta and Tesla lead tech lower
S&P 500 futures fell about 1% and Nasdaq futures about 1.6% before the open, after Wednesday’s close of 7,757.17 for the S&P 500. Meta narrowed its 2026 capex guide to $135–145 billion and Tesla cut its capex plan to about $20 billion; Investing.com reported Meta down about 3% despite an earnings beat, and chipmakers fell in sympathy with Asia.
US jobless claims fall to 194,000 and yields ease
Initial claims dropped to 194,000 for the week ended 17 October against a 200,000 forecast, close to a 57-year low, according to Reuters on Investing.com. Economists expect the Fed to hold on 28 October and hike in December, with futures near 13% for October and about 89–91% for December. The 10-year yield fell to about 5.05–5.08% and the dollar index to 101.58, its weakest since 1 October.
French 10-year yield tops 5% and passes the US yield
RTTNews reported France’s 10-year yield at 5.089%, above the US equivalent for the first time since 2013, as political unrest in France weighed on sentiment. The CAC 40 was down 1.59% at 7,795 at 10:00 GMT, according to Proactive Investors. Carrefour had fallen 13.8% on Wednesday after warning that unrest would hurt earnings.
London recovers from an early fall as banks offset miners
The FTSE 100 opened about 0.8% lower as miners fell with gold and copper, then recovered to flat at 10,753.79 after hotter UK inflation of 3.5% supported banks. Barclays, which reported results on Thursday, announced about 5,000 job cuts, according to Proactive Investors.
Key Drivers Ahead
Six events that set direction for the S&P 500, Nasdaq 100, FTSE 100, CAC 40 and Nikkei 225. All times are GMT.
- US flash PMIs
- 23 Oct
- Fri 23 Oct, 13:45 GMT
- October growth and prices paid
- UMich consumer survey
- 23 Oct
- Fri 23 Oct, 14:00 GMT
- Inflation expectations watched
- FOMC decision
- 28 Oct
- Wed 28 Oct, 18:00 GMT
- Hold near 85% priced; December hike near 90%
- US PCE inflation
- Next week
- Week of 26 Oct
- Fed hike path for December
- French 10-year yield
- 5.09%
- Ongoing
- Above the US yield since 2013
- Gulf and Iran headlines
- Brent $112
- Ongoing
- Highest since May; Iran plan reports
Swipe the strip to see every driver.
Trade Setups for Today
Ranked in the order S&P 500, Nasdaq 100, FTSE 100, CAC 40 and Nikkei 225, valid for today’s session and the Asian open. A 1-hour close beyond the stop cancels the idea.
| Instrument | Direction | Entry | Stop | Target 1 | Target 2 | Reward:risk | Conviction |
|---|---|---|---|---|---|---|---|
| S&P 500 | Long | 7,615 | 7,570 | 7,700 | 7,735 | 1.9 / 2.7 | Medium |
| Nasdaq 100 | Short | 29,650 | 29,950 | 29,050 | 28,750 | 2.0 / 3.0 | Medium |
| FTSE 100 | Long | 10,680 | 10,600 | 10,800 | 10,890 | 1.5 / 2.6 | Medium |
| CAC 40 | Short | 7,900 | 7,975 | 7,780 | 7,665 | 1.6 / 3.1 | Medium |
| Nikkei 225 | Short | 64,300 | 65,300 | 62,300 | 60,500 | 2.0 / 3.8 | Medium |
Reward:risk is the distance from entry to each target divided by the distance from entry to the stop. Prices are read at about 13:50 GMT on 22 October from TradingView daily charts; every entry sits away from the current price and needs a bounce or a pullback to trigger. The Nasdaq 100, CAC 40 and Nikkei shorts share the same oil and AI-funding theme, so they are not independent trades. Levels are conditional technical references, not recommendations.
Risk Scenario Analysis
Oil, AI-spending sentiment and Treasury yields are the swing factors.
Oil spike and an AI sell-off: higher yields, firmer hike odds and deeper chip losses
More Gulf attacks or weak tech guidance would push the growth indices through their floors, while French debt stress would keep Paris under pressure.
- S&P 5007,604, then 7,500
- Nasdaq 10029,050, then 28,750
- FTSE 10010,650, then 10,400
- CAC 407,780, then 7,665
- Nikkei 22562,300, then 60,500
Gulf calm and tech steadies: lower oil, easier yields and a bounce in chip shares
A calmer Gulf and falling yields would let oversold indices bounce to their short averages.
- S&P 5007,704, then 7,735
- Nasdaq 10029,593, then 29,860
- FTSE 10010,800, then 10,890
- CAC 407,889, then 8,134
- Nikkei 22564,500, then 66,231
S&P 500 | SPX, SP feed
S&P 500 Analysis: Price Falls 0.79% to 7,696 and Slips Under Its Two Short Averages, Above Support at 7,604
7,695.96 −61.21 (−0.79%) at about 13:50 GMT Day range 7,683.49–7,699.52 since the US open
Outlook: Bias is cautious while 7,735 caps rallies, with dip buyers expected near the 7,604 average. Futures fell about 1% before the open as oil jumped and Meta and Tesla led tech lower, and the cash index has pared part of that fall from Wednesday’s 7,757.17 close.
Key levels
- Support 2
- 7,500
- Support 1
- 7,604
- Resistance 1
- 7,704
- Resistance 2
- 7,735
- Price (7,695.96) is under the 7,735.09 and 7,703.80 averages but above the 7,603.88 average, which has carried the trend since the August rally; the early-October high near 7,820 marks the channel top.
- RSI 47.78 is under its signal line at 54.28, neutral and turning down; a close under 7,604 would open the September low near 7,500, while a close over 7,735 would put the 7,820 high back in play.
Setup: Long at 7,615, stop 7,570, targets 7,700 and 7,735. Reward:risk 1.9 / 2.7, medium conviction.
Nasdaq 100 | NDX, NASDAQ feed
Nasdaq 100 Analysis: Price Falls 1.58% to 29,350 Under All Three Averages and Tests the Floor of a Rising Channel
29,349.96 −472.56 (−1.58%) at about 13:50 GMT Day range 29,287.19–29,382.61 since the US open
Outlook: Bias is lower while 29,593 caps rallies. The Nasdaq 100 is leading Wall Street down on doubts over AI spending, chipmaker losses after Asia’s sell-off and a weaker Meta and Tesla reaction, and price now sits on the lower line of the channel from late July.
Key levels
- Support 2
- 28,750
- Support 1
- 29,050
- Resistance 1
- 29,593
- Resistance 2
- 29,860
- Price (29,349.96) is under the 29,592.64, 29,859.60 and 30,325.63 averages; the channel floor and the mid-October low both sit near 29,050–29,100, and a TheStreet strategist named 28,750–29,050 as the zone where he would buy.
- RSI 40.46 is under its signal line at 52.14 and falling; a close under 29,050 would open 28,750, while a close above 29,860 would end the decline.
Setup: Short at 29,650, stop 29,950, targets 29,050 and 28,750. Reward:risk 2.0 / 3.0, medium conviction.
FTSE 100 | UK 100 Index, FTSE feed
FTSE 100 Analysis: Price Recovers From an Early Fall to Hold Flat at 10,754 Above Its Three Averages Under the Triangle Roof
10,753.79 +0.92 (+0.01%) at about 13:50 GMT Day range 10,669.39–10,757.87
Outlook: Bias is neutral to higher while 10,650 holds. London opened about 0.8% lower as miners fell with gold and copper and oil rose, but banks lifted it back to flat after hotter UK inflation at 3.5% kept rate-hike hopes alive; Barclays also reported results and announced about 5,000 job cuts.
Key levels
- Support 2
- 10,400
- Support 1
- 10,650
- Resistance 1
- 10,800
- Resistance 2
- 10,890
- Price (10,753.79) is above the 10,708.03, 10,650.71 and 10,638.15 averages, which are bunched together; the roof near 10,800 capped the mid-October high near 10,890, and the October low near 10,400 sits on the rising floor.
- RSI 54.82 is above its signal line at 50.16, the firmest reading of the five indices; a close above 10,800–10,830 would break the roof toward 10,890, while a close under 10,638 would open 10,400.
Setup: Long at 10,680, stop 10,600, targets 10,800 and 10,890. Reward:risk 1.5 / 2.6, medium conviction.
CAC 40 | CAC 40 Index, TVC feed
CAC 40 Analysis: Price Falls 0.99% to 7,844 as French Yields Pass 5% and the Bounce Stalls Under the 7,889 Average
7,843.61 −78.08 (−0.99%) at about 13:50 GMT Day range 7,791.63–7,859.66
Outlook: Bias is lower while 7,889 caps rallies. The CAC 40 led Europe lower, down about 1.6% at 10:00 GMT, after France’s 10-year yield rose above 5% and passed the US yield for the first time since 2013; it has since recovered part of that fall.
Key levels
- Support 2
- 7,665
- Support 1
- 7,780
- Resistance 1
- 7,889
- Resistance 2
- 7,970
- Price (7,843.61) is under the 7,889.38, 8,133.75 and 8,280.85 averages; the October low near 7,665 is the floor, and the bounce failed near 7,970, with Wednesday’s 7,921.68 close inside that zone.
- RSI 41.60 is above its signal line at 37.20, a sign that selling is slowing; a close under 7,780 would open 7,665, while a close above 8,134 would be needed to end the downtrend.
Setup: Short at 7,900, stop 7,975, targets 7,780 and 7,665. Reward:risk 1.6 / 3.1, medium conviction.
Nikkei 225 | Japan 225 Index, TVC feed
Nikkei 225 Analysis: Price Closes 2.65% Lower at 62,908, Its Lowest in Nearly Three Months, Below the Floor of a Triangle
62,907.84 −1,713.18 (−2.65%) at the Thursday close Day range 62,907.84–64,866.44 (closed)
Outlook: Bias is lower while 64,500 caps rallies. The Nikkei closed on its low as chip and AI shares were sold on doubts over AI capex and Brent above $110 stoked inflation fears; Tokyo Electron and SoftBank lost about 7% and Advantest and Kioxia about 6–7%.
Key levels
- Support 2
- 60,500
- Support 1
- 62,300
- Resistance 1
- 64,500
- Resistance 2
- 66,231
- Price (62,907.84) is under the 66,889.32, 66,688.89 and 66,231.34 averages and has broken the rising triangle floor, now a ceiling near 64,500–65,000; the early-October high near 70,600 failed, and the September low near 62,300 is the next floor.
- RSI 36.59 is under its signal line at 52.41, weak but not yet oversold; a close under 62,300 would open the August low near 60,500, while a close back over 64,500 would ease the pressure. These levels apply to Friday’s Tokyo session.
Setup: Short at 64,300, stop 65,300, targets 62,300 and 60,500. Reward:risk 2.0 / 3.8, medium conviction.
Conclusion
The Nikkei has already broken its triangle floor, the Nasdaq 100 is on its channel floor and the CAC 40 is under every average, so the key question today is whether the US floors hold. We prefer selling Nasdaq 100 bounces under 29,950, CAC 40 bounces under 7,975 and Nikkei bounces under 65,300, while buying S&P 500 dips toward 7,615 above the 7,604 average and FTSE 100 pullbacks toward 10,680 while 10,638 holds. The nearest risks ahead are the US flash PMIs and the UMich survey on 23 October, the FOMC decision on 28 October at 18:00 GMT, French bond yields and Gulf headlines. A Nasdaq 100 close under 29,050 or an S&P 500 close over 7,735 would end the main setups.
Trade the S&P 500, Nasdaq 100, FTSE 100, CAC 40 and Nikkei 225 with Capital Street FX.
Frequently Asked Questions
Why did the Nikkei 225 fall below 63,000?
Investors sold chip and AI shares on doubts over whether huge AI spending will pay off, and Brent above $110 added inflation worries. The index closed at 62,907.84, its lowest in nearly three months, through the rising floor of a triangle; 62,300 and then 60,500 are the next supports.
Why is the Nasdaq 100 down today?
Meta and Tesla led tech lower, chipmakers followed Asia’s sell-off and higher oil kept Treasury yields near 5%. Price is 29,349.96 on the floor of a rising channel, so a close under 29,050 would open 28,750.
Is the FTSE 100 holding up, and where is support?
Yes, it recovered from a 0.8% early fall to trade flat at 10,753.79 as banks offset miners. The averages at 10,638–10,708 are the first support, with the 10,800 roof above.
Why is the CAC 40 underperforming?
France’s 10-year yield rose above 5% and passed the US yield for the first time since 2013 amid political unrest, which hits banks and consumer shares. The CAC 40 is under all three averages, with 7,889 the first cap and 7,665 the October low.
How will the 28 October Fed meeting affect these indices?
A hold is expected, but a hawkish message confirming a December hike would lift yields and could push the Nasdaq 100 toward 29,050 and the S&P 500 toward 7,604. A cautious tone would let both bounce to their short averages at 29,593 and 7,704.