Equinix (EQIX) Drops 5.7%, Erasing About $5 Billion in One Session
As seen on the 24/7 Wall St. homepage on October 22, 2026.
A 5.67% drop to $934 wipes out roughly $5 billion of market value in a single session, outsized for a $92.2 billion data-center REIT that normally trades quietly. Whether the $990 open gets reclaimed is the level to keep an eye on.
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Equinix opened at $990.35 and slid steadily all session, closing near its low in a one-directional move that is unusual for a data-center REIT of this size, where daily swings of even 2% are rare.
Roughly $5 billion in market value was erased today, a move large enough in a large-cap REIT to point to sector rotation, a macro rate concern, or company-specific news rather than ordinary price fluctuation.
Selling pressure persisted all day, and each attempted bounce, including a brief lift back toward $941, was met with renewed selling that pushed the price back toward session lows.
The level to watch now is the $990 open, where buyers stepped in at the start of the session. Until that level is recovered, the path of least resistance remains lower.
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Mentioned: EQIX