Stock Market Today, Oct. 20: IREN Slides on Funding Worries and Rate Fears

IREN stock fell 4% on October 20, 2026, as premarket funding worries and interest rate concerns pressured the AI cloud and data center operator. While peers like Applied Digital and Core Scientific showed steadier demand, IREN's $7.6 billion debt load and dependence on financing remain key concerns. The company's legacy Bitcoin mining business continues to generate most of its revenue, which could provide some insulation from AI cloud sector headwinds.