Business & Markets — October 24, 2026

AI jitters cap worst week since July. Neocloud stock declines, rising credit-default spreads and Solidigm's pulled IPO capped the S&P 500's worst week since July, ahead of hyperscaler earnings.

CNBC noted the selloff landed on the 97th anniversary of Black Thursday, the 1929 crash that preceded the Great Depression, adding a symbolic edge to a week of mounting concern over the AI buildout. Investors now turn to upcoming hyperscaler earnings reports, which could either steady sentiment around AI infrastructure spending or deepen questions raised by the week's stock slumps, credit stress and canceled offering.

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Anthropic's IPO window narrows. The AI lab remains 2026's last major IPO hope. But time is running out to file key paperwork for a November listing, and market pressure may push it to stay private.

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Meta engineers a billionaire-tax workaround. Meta launched a new stock class partly designed to let CEO Mark Zuckerberg pay California's proposed billionaire tax without diluting his control of the company.

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White House eases some Canada tariffs. The administration exempted plywood, packing crates and certain machinery from 50% tariffs on $20 billion of Canadian goods effective Oct. 30, after lobbying by GOP senators facing tough midterm races.

The 50% tariffs were imposed over the summer on $20 billion worth of Canadian goods, according to AP News. While the administration carved out exemptions for the named categories, it simultaneously added tariffs on other products, making the move a reshuffling of trade penalties rather than a broad rollback. The timing follows pressure from Republican senators concerned about the duties' effects ahead of competitive midterm contests.

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