S&P 500 falls as AI worries hit software makers
By Noel Randewich and Niket Nishant
Tue September 8, 2026
The pendulum has swung back again with three major software makers declining about 5% each which has raised the old concerns about whether AI can compete with software services. That combined with the continuing attacks in the war and a growing skepticism that the Strait of Hormuz crisis is temporary sent all the indexes way down. The Nasdaq did recover somewhat after a blistering morning but the Dow and S&P were just straight down and by a substantial amount.
Not excepting inflation reports coming later this week, oil continues to rise reaching a six-week high and the odds of a September rate hike have increased to 60% vs 54.8% Friday and Thursday’s 49.4%, in other words, heading rapidly in the wrong direction. Increasing yields on U.S. Treasuries have also made stocks less attractive. All this negative risk-off sentiment is reflected in Tuesday’s volume of 15.7 billion, now aggressively above the 14.9 average.
DJ: 53,414.25 -271.86 NAS: 26,506.99
-77.07 S&P: 7,718.60
-29.11 9/4
DJ: 52,786.07 -628.18 NAS: 26,421.41
-85.58 S&P: 7,673.52
-45.08 9/8
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