Why Is Palantir (PLTR) Stock Down 7.22% Today, Oct 16? AI Sector Weakness Sparks Profit-Taking After Record Rally

Palantir (PLTR) fell 7.22% to close at $186.03 on October 16, 2026, as a broad software selloff compressed premium valuations despite a new banking collaboration. This draft examines the market transmission, company context, downside risks and technical levels shaping the next trading decision.

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