The S&P 500 and Nasdaq closed lower Thursday as rising crude prices and weakness in semiconductor stocks weighed on Wall Street.
The Dow Jones Industrial Average managed a small gain, but technology shares were pressured by renewed questions about the profitability and financing of the AI boom.
Oil and AI worries hit risk appetite
Brent crude rose more than 4% and U.S. oil climbed about 3.6%, reviving concerns that energy costs could keep inflation elevated.
Semiconductor stocks fell sharply while Broadcom and Oracle declined amid investor concern about debt-financed AI infrastructure spending.
Markets are also weighing the possibility of further Federal Reserve rate increases before year-end.
Sources
- NYSE/Nasdaq market data
- Reuters, Oct. 8, 2026
