The three major New York stock indexes opened lower on the 26th (local time) on selling in technology stocks. As of 9:49 a.m., on the New York Stock Exchange, the Dow Jones Industrial Average fell 231.75 points, or 0.45%, to 51,688.87 from the previous session. The S&P 500 lost 44.56 points, or 0.61%, to 7,312.93, and the Nasdaq dropped 257.84 points, or 1.02%, to 25,100.76.
In the market, a report that OpenAI is considering pushing back its initial public offering (IPO) to next year shook investor sentiment. With volatility rising in AI-related stocks, concerns spread across semiconductor stocks that an IPO delay could be interpreted as a signal of slowing AI infrastructure investment. Micron Technology fell 3.72%, and AMD and Intel slipped 3.32% and 3.44%, respectively.
Onsemi plunged 18.99% after announcing the acquisition of Synaptics. In contrast, Rocket Lab rose 5.34% on news of winning a NASA launch services order. By sector, technology and industrials were weak, while health care and consumer discretionary were relatively firm.
Major European stock markets also fell together. The Euro Stoxx 50 dropped 1.09%, and the U.K. FTSE 100, France's CAC 40, and Germany's DAX were all weaker. International oil prices also fell, with August delivery WTI trading at $69.61 per barrel.