# US Stocks Dip as Crude Prices Surge

> US stocks fall as crude prices jump and chip stocks weigh.
- Title: US Stocks Dip as Crude Prices Surge · The Economic Times
- Summary: US stocks fall as crude prices jump and chip stocks weigh. US stocks dropped on Thursday due to rising crude prices from Middle East tensions and…
- Keywords: s&p 500, nasdaq, crude prices, chip stocks, openai, us federal reserve, oil prices, money, business, Stocks, Dip, Crude
- Source: The Economic Times — https://economictimes.indiatimes.com/markets/us-stocks/news/us-stocks-sp-500-nasdaq-end-lower-as-crude-prices-jump-chip-stocks-weigh/articleshow/134800283.cms
- Author: Reuters
- Published: 2026-10-08T20:08:00+00:00
- Read time: 1 min
- Topics: s&p 500, nasdaq, crude prices, chip stocks, openai, us federal reserve, oil prices, money, business
## US Stocks Dip
US stocks dipped on Thursday as crude prices surged on a spike in Middle East tensions and a cut in US output that fed inflation and rate-hike fears.
## S&P 500 and Nasdaq Drop
The S&P 500 lost 36.07 points, or 0.46%, to end at 7,765.70 points, while the Nasdaq Composite lost 341.59 points, or 1.24%, to 27,197.10.
## Dow Jones Rises Slightly
The Dow Jones Industrial Average rose 45.68 points, or 0.09%, to 51,225.48.
## Chip Stocks Underperform
Chipmakers, which have soared over 80% so far this year, were clear underperformers on the day following a report from the Financial Times that said OpenAI's annualized revenues were $20 billion less than the company previously signaled.
## Oil Prices Jump
Oil prices jumped on supply concerns after a spate of attacks on shipping in the Strait of Hormuz, combined with a cut in US output due to hurricane activity.
## Market Reaction
The market's going sideways in anticipation of third-quarter earnings season, which begins next week, and there's the ongoing conflict in Iran that's pushing oil prices higher.
## Key takeaway

US stocks dropped on Thursday due to rising crude prices from Middle East tensions and semiconductor stocks underperforming after OpenAI's revenue report.