{
  "id": 12970498,
  "title": "US stocks: S&P 500, Nasdaq end lower as crude prices jump, chip stocks weigh",
  "url": "https://urgent.news/2026/10/08/us-stocks-s-p-500-nasdaq-end-lower-as-crude-prices-jump-chip-stocks-12970498",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T22:17:22.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/us-stocks-sp-500-nasdaq-end-lower-crude-prices-jump-chip-stocks-weigh"
  },
  "original_language": "en",
  "account": "On Thursday (Oct 8), US stocks dipped as crude prices surged due to tensions in the Middle East and reduced US oil output, causing concerns about inflation and potential rate hikes. The Nasdaq experienced the most significant drop, closing lower than the S&P 500 and the Dow Jones Industrial Average, which saw a slight gain. Chip stocks, which had risen by more than 80% in 2026, underperformed, falling 3.4% after a Financial Times report stated that OpenAI's annualized revenues were $20 billion lower than previously reported. Oil prices rose due to attacks on shipping in the Strait of Hormuz and US output cuts caused by hurricanes. The Federal Reserve's decision to raise interest rates in September, for the first time since July 2023, added to the market's uncertainty. As the third-quarter earnings season approaches, investors are cautious, with equity prices currently favoring an upward trend.",
  "summary": "Chips drop after FT report that OpenAI overstated revenues",
  "key_points": [],
  "editors_take": null,
  "illustration": "https://urgent.news/ill/12970498.png",
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "The Economic Times - Top News",
        "title": "US stocks: S&P 500, Nasdaq end lower as crude prices jump, chip stocks weigh",
        "url": "https://urgent.news/2026/10/08/us-stocks-s-p-500-nasdaq-end-lower-as-crude-prices-jump-chip-stocks",
        "published": "2026-10-08T20:08:56.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "S&P 500, Nasdaq end lower as chip stocks weigh",
        "url": "https://urgent.news/2026/10/08/s-p-500-nasdaq-end-lower-as-chip-stocks-weigh",
        "published": "2026-10-08T21:58:10.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "S&P 500, Nasdaq end lower as crude prices jump, chip stocks weigh",
        "url": "https://urgent.news/2026/10/08/s-p-500-nasdaq-end-lower-as-crude-prices-jump-chip-stocks-weigh",
        "published": "2026-10-08T22:19:23.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "TRexBio prices IPO at $14 per share on Nasdaq",
        "url": "https://urgent.news/2026/10/09/trexbio-prices-ipo-at-14-per-share-on-nasdaq",
        "published": "2026-10-09T01:41:01.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}