Stock futures move lower after S&P 500 retreats from record: Live updates - CNBC
Stock markets declined as investors reacted to disappointing revenue news from OpenAI and rising geopolitical tensions in the Middle East. Higher energy prices and interest rate volatility continue to weigh on investor sentiment.
Why it matters
Market fluctuations driven by AI sector performance and geopolitical instability impact global investment portfolios and economic stability.
The Nasdaq Composite slid on Thursday as new details about OpenAI spooked investors, putting the artificial intelligence trade under pressure.
The tech-heavy Nasdaq was down 1.25% to close at 27,193.34, while the S&P 500 declined 0.47% to 7,765.36. The Dow Jones Industrial Average added 51.77 points, or 0.1%, to end at 51,231.64.
Shares of key tech names came under pressure after OpenAI's annualized revenue was revealed to be short of the amount previously signaled. Shares of Oracle were down more than 5%, while chipmakers such as Nvidia and Advanced Micro Devices lost nearly 3% and almost 4%, respectively.
Also covering this story
One other newsroom covered this event. We read that version too.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in