The Nasdaq and S&P 500 were lower on Thursday amid rising Treasury yields and elevated oil prices, according to CNBC, which reported the decline followed a stumble in the AI trade after an OpenAI revenue setback.
Key facts
- CNBC reported the Nasdaq fell about 1% on Thursday.
- The S&P 500 was also lower during the session, according to CNBC.
- CNBC cited rising Treasury yields as a pressure on stocks.
- CNBC cited elevated oil prices as a further factor weighing on markets.
- CNBC's reporting linked the decline to a stumble in the AI trade following an OpenAI revenue setback.
U.S. stocks moved lower on Thursday, with CNBC reporting that the Nasdaq fell about 1%. The broader S&P 500 was also lower during the session, according to CNBC.
CNBC reported that the S&P 500 and Nasdaq were lower as investors faced pressure from rising Treasury yields and elevated oil prices.
CNBC’s coverage attributed the decline to a stumble in the AI trade following what it described as an OpenAI revenue setback. Further detail on the nature of that setback was not provided in the available reporting.
CNBC provided live updates on the session. Beyond the moves in the major indexes and the cited pressures from yields and oil prices, additional details were not specified in the available reporting.
Why it matters
The AI trade and large technology shares have been significant drivers of recent stock market gains, so reported signs of weakness draw close attention from investors. CNBC also cited rising Treasury yields and higher oil prices as factors weighing on the market during the session.
Frequently asked questions
How much did the Nasdaq fall?
According to CNBC, the Nasdaq fell about 1% on Thursday.
Why did stocks decline?
CNBC reported that stocks fell as the AI trade stumbled following an OpenAI revenue setback, alongside pressure from rising Treasury yields and elevated oil prices.
Was the S&P 500 also affected?
Yes. CNBC reported that the S&P 500 was also lower during the session.