Moderna led Tuesday's losers with a 17.8% drop as photonics stocks fell
As seen on the 24/7 Wall St. homepage on October 22, 2026.
Moderna's 17.8% drop was the single biggest move at Tuesday's close, and four of the five worst performers were chip and photonics names. Spotify topped the winners.
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Moderna closed at $202.11 on October 22, shedding 17.8% to claim the sharpest single-stock decline of the session. That magnitude of a one-day move is unusual even for a volatile biotech name and puts the stock at a level investors will be watching closely for any follow-through selling.
Four of the five worst performers on the day were chips and photonics names, including Coherent, Applied Optoelectronics, Lam Research and Lumentum. The breadth of those declines points to sector-level pressure.
Spotify was the standout gainer, climbing 10.83%, with Blackstone, Accenture, Nasdaq Inc. and Lucid rounding out the top five advancers.
A beaten-down biotech and a cluster of photonics names on the losing side, set against financial and streaming strength, point to sector rotation as the session's dominant theme. Investors moving out of high-multiple tech-adjacent plays and into financials and consumer platforms would account for much of the day's action.