Stories
Wall Street Mixed: Dow Recovers 300 Points As Nasdaq Drops 1.4% Amid Tech Selloff
C
CNBC TV18•09-10-2026, 04:45
Wall Street Mixed: Dow Recovers 300 Points As Nasdaq Drops 1.4% Amid Tech Selloff
- •The Dow Jones recovered over 300 points from its daily lows to finish 50 points higher, while the Nasdaq Composite fell 1.25% and the Nasdaq 100 dropped 1.4%.
- •Tech and AI-related stocks dragged the Nasdaq down following OpenAI's disclosure that its annualized revenue run-rate reached $50 billion, falling short of earlier reports of $68 billion.
- •Major tech and chipmaking stocks saw steep declines, with Nvidia falling 3%, Oracle down 6%, and companies like AMD, Broadcom, Intel, and Super Micro dropping 4% to 5%.
- •The Dow Jones staged a recovery after US President Donald Trump stated on Truth Social that the US is holding productive discussions with Iran and will not attack before mid-term elections.
- •A cool-down in US bond yields following a strong 30-year bond auction and US Treasury repurchases also provided a boost to the Dow Jones during the session.
Key Questions Answered
The Nasdaq fell 1.25% and the Nasdaq 100 dropped 1.4% due to a sharp decline in tech, chip-making, and AI stocks following OpenAI's revenue disclosure that showed its annualized run-rate was below earlier reports.
The Dow recovered due to US President Donald Trump stating productive discussions with Iran would prevent attacks before mid-term elections, alongside a cool off in bond yields following a strong 30-year bond auction and US Treasury repurchases.
Crude oil prices stayed high with Brent around $104 because Hurricane Isaias forced the shutdown of over 60% of crude production in the Gulf of Mexico, while ongoing attacks at Saudi Arabia's Riyadh airport also drove prices upward.
