Stock Market Today, Oct. 22: CoreWeave Slides on Bernstein Downgrade and Financing Worries

CoreWeave stock fell 10.06% to $55.60 after Bernstein analyst cut its price target to $51 from $74, citing financing concerns and an estimated $85 billion needed to fund its committed backlog. Despite the downgrade, Nvidia CEO Jensen Huang and Blackstone COO Jon Gray praised strong demand for compute capacity and CoreWeave's management, suggesting the underlying business remains solid despite debt cost pressures.