{
  "id": 6341170,
  "title": "S&P 500 falls as AI worries hit software makers",
  "url": "https://urgent.news/2026/09/08/s-p-500-falls-as-ai-worries-hit-software-makers-6341170",
  "topic": "ai",
  "section": "AI",
  "published": "2026-09-08T21:54:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/09/09/s-p-500-falls-as-ai-worries-hit-software-makers"
  },
  "original_language": "en",
  "account": "The S&P 500 experienced a decline on Tuesday, dropping 1.4% after two consecutive days of losses. Salesforce, Intuit, and ServiceNow led the software makers in losing ground, with each falling about 4% and 5%, respectively. The launch of OpenAI's newest model, GPT-6 Astra, reignited concerns about AI potentially competing with specialized software services. Jed Ellerbroek, a portfolio manager, noted that Astra has reignited software disruption fears, causing a resurgence in the trend where semiconductor stocks and data center capex beneficiaries thrive while software stocks underperform. Intel and Qualcomm saw gains after securing a deal with Amazon to develop custom AI chips. Traders raised the odds of a Federal Reserve interest rate hike at the September 15-16 meeting following a stronger-than-expected increase in August jobs. This week's economic data, including producer and consumer price reports, will be crucial data points before the Fed's decision. Investors are closely watching for further evidence that inflation pressures are cooling. Apple fell 1.2% prior to a product event where the new CEO, John Ternus, is expected to unveil the latest smartphone. The S&P 500 closed the session at 7,673.52 points, while the Nasdaq dipped 0.32% to 26,421.41 points, and the Dow Jones Industrial Average declined 1.18% to 52,786.07 points. The S&P 500's valuation has decreased from 21 in early June to 19 times expected earnings, reflecting increased earnings expectations following a strong second-quarter reporting season. Despite this optimism, the ongoing US-Israeli conflict with Iran continues to cast a shadow over equities, with oil prices reaching a six-week high following Iran-backed Houthis' attacks on Saudi energy facilities.",
  "summary": "OpenAI's launch last week of its newest model reignited speculation that AI could compete with services now offered by specialised software companies.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Straits Times Business",
        "title": "S&P 500 falls as AI worries hit software makers",
        "url": "https://urgent.news/2026/09/08/s-p-500-falls-as-ai-worries-hit-software-makers",
        "published": "2026-09-08T20:18:04.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "US stocks: S&P 500 falls as AI worries hit software makers",
        "url": "https://urgent.news/2026/09/08/us-stocks-s-p-500-falls-as-ai-worries-hit-software-makers",
        "published": "2026-09-08T21:47:46.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "S&P 500 falls as AI worries hit software makers",
        "url": "https://urgent.news/2026/09/08/s-p-500-falls-as-ai-worries-hit-software-makers-6343839",
        "published": "2026-09-08T21:54:00.000Z"
      }
    ]
  },
  "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."
}