S&P 500, Nasdaq end lower as crude prices jump, chip stocks weigh

S&P 500, Nasdaq end lower as crude prices jump, chip stocks weigh

By Stephen Culp and Tharuniyaa Lakshmi

Thu October 8, 2026  

A combination of oil rigs being shut down as a hurricane precaution plus a smattering of new attacks on oil tankers in the Strait of Hormuz has shot oil prices up again and again raised the ugly specter of inflation after a brief pause in the last couple of days. Inflation scares always hit tech the hardest and that was certainly the case today.  

There was a whopping 345 point loss on the Nasdaq, much of that in the in the chip sector. There remains the highly held expectation of no rate hike this month but the odds for a December hike stand at 69.2%. Trading was brisk at 18.8 billion, well above the 17.7 average. 

DJ: 51,179.87  -341.41        NAS: 27,538.69  -61.20        S&P: 7,801.77  -17.16             10/7

DJ: 51,231.64  +51.77         NAS: 27,193.34  -345.35      S&P: 7,765.36  -36.41            10/8

Thu 10-8-26 5:15 pm S&P 500, Nasdaq end lower as crude prices jump, chip stocks weigh | Reuters