Nvidia fell just 1.43% while tech shed over $1 trillion and the Philly semi index logged its eighth straight down day, longest streak since 2008. Huang says "all of this is going to pass," but oil abo

What happened: Nvidia CEO Jensen Huang said "All of this is going to pass" at a Berlin event on October 16, 2026, after tech stocks lost more than a trillion dollars in value in a single session. Key numbers: Nasdaq 100 fell 2.5% to 29,187.55. S&P 500 lost 1.1%. Philadelphia semiconductor index dropped 3.8%, its eighth straight losing day. Why it matters: Huang offered conviction but no new orders, guidance, or customers, and the selloff came through oil and interest rates rather than AI demand. Nvidia held up better than peers, and the November earnings report is the test of his prediction.

Nvidia CEO Jensen Huang said "All of this is going to pass" at a Berlin event on October 16, 2026, after tech stocks lost more than a trillion dollars in value in a single session.

Huang offered conviction but no new orders, guidance, or customers, and the selloff came through oil and interest rates rather than AI demand. Nvidia held up better than peers, and the November earnings report is the test of his prediction.