Tech Weighs on US Stocks

2026-04-28 13:36 By Andre Joaquim 1 min. read

Tech companies weighed on US stock indices as sharp losses for AI companies offset robustness in other sectors ahead of major earnings reports.

The Nasdaq 100 dropped 1.5% and the S&P 500 fell 0.7%, pulling back from their records.

Reports indicated that OpenAI missed its own targets for user acquisition sales.

The developments magnified recent skepticism on whether the surge in AI capital expenditure is warranted, triggering selling pressure for software companies and hardware producers alike.

Oracle and Coreweave were both 5% down, while Nvidia, Broadcom, and Micron dropped close to 3%.

Meanwhile, rival tech hyperscalers Meta, Microsoft, and Alphabet were lower ahead of their earnings after tomorrow's closing bell.

In turn, the Dow inched higher on strength from traditional and defensive sectors, even though high energy prices from the war and the risk of restrictive policy remained headwinds for the US economy.

Visa, JPMorgan, and Johnson & Johnson were nearly 1% up.



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2026-04-28
Tech Weighs on US Stocks
Tech companies weighed on US stock indices as sharp losses for AI companies offset robustness in other sectors ahead of major earnings reports. The Nasdaq 100 dropped 1.5% and the S&P 500 fell 0.7%, pulling back from their records. Reports indicated that OpenAI missed its own targets for user acquisition sales. The developments magnified recent skepticism on whether the surge in AI capital expenditure is warranted, triggering selling pressure for software companies and hardware producers alike. Oracle and Coreweave were both 5% down, while Nvidia, Broadcom, and Micron dropped close to 3%. Meanwhile, rival tech hyperscalers Meta, Microsoft, and Alphabet were lower ahead of their earnings after tomorrow's closing bell. In turn, the Dow inched higher on strength from traditional and defensive sectors, even though high energy prices from the war and the risk of restrictive policy remained headwinds for the US economy. Visa, JPMorgan, and Johnson & Johnson were nearly 1% up.
2026-04-28
Tech Weighs on US Stock Futures
US equity futures were mixed on Tuesday as sharp losses for the AI companies were offset by robustness in other sectors, as markets positioned for major earnings reports in a backdrop of uncertain global energy supply. Contracts for the Nasdaq 100 dropped 1%, while those for the S&P 500 fell 0.3%. Reports indicated that OpenAI missed its own targets for user acquisition sales. The developments magnified recent skepticism on whether the surge in AI capital expenditure is warranted, triggering selling pressure for software companies and hardware producers alike. Oracle and Coreweave were both 7% down pre-market, while Nvidia dropped 2%. Meanwhile, rival tech hyperscalers Meta, Microsoft, and Alphabet were lower ahead of their earnings after tomorrow's closing bell. In turn, Dow futures inched higher on strength from traditional and defensive sectors, even though high energy prices from the war and the risk of restrictive policy remained headwinds for the US economy.
2026-04-28