S&P 500은 OpenAI의 매출 보고서가 반도체 주식 매도세를 촉발한 뒤 7,765.36으로 하락했다.

The S&P 500 closed at 7,765.36 on Thursday, 8 October 2026, down 36.41 points, or 0.47%, from Wednesday's close of 7,801.77. It was the index's second straight decline, following Tuesday's record close of 7,818.93, the first finish above 7,800 in its history. The index opened at 7,778.45 and rallied to an intraday high of 7,797.79 in the first hour. Shortly before 1 p.m. Eastern time, it lost ground sharply as technology stocks sold off, hitting an intraday low of 7,731.26 around 1:30 p.m. before recovering part of the drop into the close. The index now sits about 1.0% below its all-time intraday high of 7,844.52 and roughly 23% above its 52-week low of 6,316.91, so the pullback remains shallow in the context of a strong year for US equities.

**Why Did the S&P 500 Fall Today?**

The trigger was a Financial Times report that OpenAI's annualised revenue is roughly $20 billion lower than the company had previously signalled. Because OpenAI is one of the largest buyers of AI computing capacity, the report revived concerns that the artificial-intelligence spending boom is becoming harder to justify. A Bloomberg gauge of large chipmakers sank about 3.4%, and the Nasdaq 100 lost about 1.4%. Investors had already been unsettled by news that an Nvidia-backed Australian data-centre company had failed to attract the support it hoped for, and by renewed AI-bubble warnings from billionaire investor Ray Dalio.

Macro pressures added to the caution. Oil jumped on reports that the White House had asked for options for possible strikes on Iran before the midterm elections, and on Hurricane Isaias disrupting Gulf of Mexico output. The 10-year Treasury yield briefly climbed above 5.3% before falling back to around 5.23% by the close, helped by President Trump's later statement that he would not strike Iran before the November vote. Investors were also digesting Wednesday's Federal Reserve minutes, which showed most officials expect one more rate increase this year after September's hike to a 3.75% to 4.00% range.

**Which S&P 500 Stocks and Sectors Moved the Most?**

Technology was the day's biggest loser, yet market breadth was not weak: roughly half of US stocks rose, underlining how concentrated the damage was. Oracle, a key computing partner for OpenAI, fell about 5.7%. Arm Holdings dropped about 6.5%, Intel about 5.4%, Marvell Technology roughly 4.2%, Micron about 4.1%, AMD around 4%, and Broadcom about 3.9%. Nvidia fell about 2.9%, Amazon about 2.2%, Alphabet about 1.6% and Microsoft about 1.3%.

Energy led the market higher, with Exxon Mobil gaining about 2.7% as crude rallied, and consumer staples also outperformed. Apple rose about 1.2% and Visa about 1%. In single-stock news, Chipotle Mexican Grill surged about 6.2% on a report that Starbucks was exploring a takeover, McDonald's rose about 2.6% and Best Buy gained around 5%. Nike fell more than 2% on a cautious fiscal 2027 outlook, and Universal Display slid after a Citi downgrade linked to expectations of weaker smartphone demand.

**What Does the Fed Outlook Mean for the S&P 500?**

Interest rates remain the single biggest swing factor for equity valuations. With the 10-year yield trading around 5.2% to 5.3%, among its highest levels in nearly two decades, the gap between bond yields and equity earnings yields is unusually thin for an index trading close to record highs. Goldman Sachs strategists have warned that rising rates could cap future returns, a concern sharpened by the fact that many large technology firms have increased borrowing to fund AI infrastructure.

The next Fed decision is due on 27 to 28 October, one week before the midterms. Futures pricing earlier this week implied only around a one-in-four chance of a hike at that meeting, but a further move by December is widely expected. Stronger inflation data or a renewed oil spike could quickly lift those odds and pressure richly valued growth stocks again.

**What Should S&P 500 Investors Watch Next?**

Third-quarter earnings season, US inflation data and the Fed's late-October decision will set the tone for the rest of the month, with oil headlines from the Middle East remaining a wild card.

**Global Markets Snapshot**

In Europe, markets had already closed firmly lower. The FTSE 100 slipped 0.16% to 10,441.60, cushioned by Tesco and the oil majors, while Germany's DAX 40 fell 1.11% to 24,823.05, its weakest close in almost two months. France's CAC 40 lost 0.51% to 7,729.69, and Italy's FTSE MIB dropped about 1.35% to a more than four-month low. The pan-European Stoxx 600 declined 0.75%.

In commodities, Brent crude touched roughly $105.90 a barrel before settling near $104, while US WTI crude rose more than 3% to about $91. Gold gained around 0.4% to roughly $4,158 an ounce, and Bitcoin slipped below $82,000.

**Investor Takeaway**

Thursday's move was a reminder that the S&P 500 is heavily dependent on a handful of AI-linked mega-caps. A single report on one private company's revenue was enough to knock more than 3% off the chip sector and drag the broad index lower, even as most stocks rose. Investors with concentrated exposure to the AI trade may want to review their position sizes, while those seeking balance may note how energy, staples and value names cushioned the decline. The coming weeks of third-quarter earnings, starting with the big banks and Taiwan Semiconductor, which this week reported a 51% jump in quarterly revenue, will test whether AI demand is still strong enough to justify current valuations.

**Frequently Asked Questions**

*What did the S&P 500 close at on 8 October 2026?*

The S&P 500 closed at 7,765.36, down 36.41 points or 0.47%, after trading between 7,731.26 and 7,797.79.

*Why did tech stocks fall today?*

A Financial Times report said OpenAI's annualised revenue is about $20 billion below what it previously signalled, raising doubts about AI spending and hitting chipmakers such as Intel, AMD, Broadcom, Micron and Nvidia, as well as Oracle.

*How far is the S&P 500 from its record high?*

The index is about 1.0% below its all-time intraday high of 7,844.52 and about 0.7% below its record close of 7,818.93, set on 6 October 2026.