# Wall St Dips as Oil Rises, Chip Stocks Fall

> Wall Street drops as oil prices surge and semiconductor stocks slump amid Middle East tensions and rate hike fears.
- Title: Wall St Dips as Oil Rises, Chip Stocks Fall · mint | Shortify
- Summary: Wall Street drops as oil prices surge and semiconductor stocks slump amid Middle East tensions and rate hike fears. Wall Street fell 0.07% to 51,145.18 as…
- Keywords: wall street, crude prices, chip stocks, dow jones, s&p 500, nasdaq, oil prices, semiconductor stocks, middle east tensions, interest rates, fed rates, broadcom
- Source: mint — https://livemint.com/market/wall-st-turns-lower-as-crude-spikes-chip-stocks-weigh-11791485275522.html
- Published: 2026-10-08T18:47:55+00:00
- Read time: 1 min
- Topics: wall street, crude prices, chip stocks, dow jones, s&p 500, nasdaq, oil prices, semiconductor stocks, middle east tensions, interest rates, fed rates, broadcom
## Wall Street Dips
Wall Street dipped on Thursday as crude prices surged on Middle East tensions and a cut in US output that fed inflation and rate-hike fears.
## Stock Indexes Down
All three major US stock indexes lost ground, with the tech-heavy Nasdaq down the most at 1.37%.
## Chip Stocks Fall
Chipmakers, which have soared over 80% so far this year, were clear underperformers, falling 3.0% as investors worried rising interest rates could become a headwind to AI buildout.
## Oil Prices Spike
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.
## Fed Rate Hikes
The US Federal Reserve hiked interest rates in September for the first time since July 2023, with markets expecting a December rate hike probability of 67.9%.
## Market Reactions
Starbucks dipped 4.2% following reports of a potential Chipotle Mexican Grill purchase, while Palantir climbed 1.6% after Goldman Sachs upgraded its rating to 'buy'.
## Key takeaway

Wall Street fell 0.07% to 51,145.18 as crude prices spiked on Middle East tensions and chip stocks dropped 3.0% due to rising interest rates.