Need more than one shit day on the market to declare Armageddon. Not saying it’s not coming but we have a lot further to fall first.

You’re not gonna believe this.

5,000 stocks are down 20%+ from their 52-week highs.

And it gets crazier…

Nearly 4,000 are down 40%+.

Think about what that actually means.

While the major indices have held together, underneath the surface thousands of stocks have already… pic.twitter.com/40i1oishA1

— Prof (@TheProfInvestor) October 16, 2026

And it gets even crazier. 🤯

1,400 stocks are down 70%+ from their 52-week highs.

Let that sink in.

If you’re down 70%, you need roughly a 233% gain just to get back to breakeven. https://t.co/Uirr7DnLdr pic.twitter.com/pJLl48GfQQ

— Prof (@TheProfInvestor) October 16, 2026

https://t.co/WahTIU665I

— The Kobeissi Letter (@KobeissiLetter) October 15, 2026

Nasdaq drops 4.5% for the week as AI stocks and oil weigh on Friday close

S&P 500 closed Friday at 7,659.44, down 1.1%. Dow fell 0.3% to 52,002.41. Nasdaq sank 2.1% to 26,140.03. Russell 2000 lost 1.7%. For the week the S&P fell 1.9%, Dow rose 0.7%, Nasdaq dropped 4.5% (worst since June), and Russell fell 3%. Chip and AI names drove the losses—Micron 5.6%, Intel 5.8%, CoreWeave about 12% Friday and 25% for the week as its bonds yielded above 15%. Oil jumped more than 3%, Brent near $109.86 on Middle East worries. Hotter inflation data kept rate concerns alive.

https://apnews.com/article/wall-street-stocks-dow-nasdaq-c27809783ae3230b44c26e5ee4bea056

h/t set-monkey