Scott Melker, host of The Wolf Of All Streets podcast, posted on X on Saturday, October 17, 2026, drawing attention to a notable downturn in the Nasdaq 100 index. Melker stated, " The Nasdaq 100 closed down -2.50% today, falling -748 points to 29,187.55. The index is now down -6.5% from its October 6 high of 31,224.47, its sharpest pullback in roughly 10 days. Over the past week, the Nasdaq 100 has declined -5.49% from the October 9 close of 30,883.15. The tech-heavy index is seeing its largest weekly loss since June."
The reported decline for the Nasdaq 100 reflects a broader negative sentiment in technology stocks. The overall Nasdaq Composite index also experienced a significant drop, closing down -2.1% today at $26,140. This follows a period where other major U.S. indexes, including the S&P 500 and Dow Jones, have also seen declines, with the S&P 500 down -1.1% and the Dow Jones down -0.3% today. The Crypto Fear & Greed Index currently sits at 55, indicating Greed.
Melker's observation suggests that the tech sector is undergoing a period of correction, marking the most substantial weekly loss for the Nasdaq 100 since June. This downturn could signal increased caution among investors regarding growth-oriented assets. Market participants will likely monitor whether this pullback extends further or if it represents a temporary consolidation before a potential rebound in technology stocks.
