S&P 500 Falls From Peak as OpenAI Fears Drag on Tech, Chipmakers
OpenAI CEO Sam Altman
Photographer: Kyle Grillot/BloombergUS stocks declined on Tuesday, with the S&P 500 Index falling from its record, led by a slide in semiconductor and other tech companies.
A report about OpenAI missing its internal sales goals fueled worries about artificial intelligence spending, dragging on a swath of exposed shares. Chip stocks, which ended their record winning streak this week, sold off. The Philadelphia Semiconductor Index, known as the SOX, closed down 3.6%, with all of its 30 members in the red.