US stocks: S&P 500, Nasdaq end lower as crude prices jump, chip stocks weigh
Economic Times 1 hr ago·8 Oct 2026, 8:08 pm
U.S. equity markets slipped on Thursday, with both the S&P 500 and Nasdaq Composite posting declines. The drop was led by a sharp rise in crude‑oil prices after tensions in the Middle East escalated, while the technology segment was hit by a downgrade in revenue expectations for OpenAI that rattled chip makers.
Rising oil adds cost pressure for many firms and often draws capital toward energy stocks, while the chip sector’s reliance on AI spending makes it vulnerable to shifts in OpenAI’s outlook, prompting broader caution among tech investors.
Going forward, traders will monitor oil price movements as the Middle East situation evolves, and they’ll keep an eye on earnings from semiconductor companies and any new guidance from AI players. Those signals will help gauge whether the market’s dip is temporary or the start of a wider pullback.
Key takeaways
- Category: Stocks.
- AI reads the tone as negative (potentially bearish) for the stock.
- Flagged as a high-impact, market-moving story.
Why it matters
This is a high-impact development and could move the stock. The tone is negative — watch for downside reaction. Use the price and stock snapshot to gauge how the market is responding.
