Oil remained sharply higher and chip stocks sold off, leaving the Nasdaq Composite as the clear laggard at the close.
CAMS Closing Market Recap.
Thursday, October 8, 2026.
Good evening.
Oil remained sharply higher and chip stocks sold off, leaving the Nasdaq Composite as the clear laggard at the close.
The Nasdaq Composite fell about 1.2% to 27,193.34.
The S and P 500 lost about 0.5% to about 7,765, while the Dow added 0.10%.
West Texas Intermediate crude was $90.83 per barrel, up 2.89%, and Brent was $103.53, up 3.32%.
Reuters tied the oil jump to shipping attacks in the Strait of Hormuz and to United States output cuts as a hurricane threatened offshore production.
The energy sector fund gained 2.97%, while the technology fund lost 1.79% and the semiconductor fund fell 2.84%.
Six of the eleven tracked sector funds finished higher, so the damage was concentrated rather than market-wide.
In a late-afternoon snapshot, Reuters reported that Nasdaq decliners outnumbered advancers by 1.5 to 1.
The V I X rose 2.32% to 15.43, a contained reading despite the split tape.
Treasury yields eased after the auction, with the 10-year yield at 5.227% and the 2-year yield at 4.749% shortly after the close.
The 30-year Treasury sale cleared at 5.618% with a 2.54 bid-to-cover ratio.
Federal Reserve Governor Christopher Waller said additional rate increases would likely be needed if the data continue as expected, with flexibility on timing.
Initial jobless claims edged down to 197,000 for the week ended October 3.
PepsiCo gained 3.73% after reporting results, even as it cut its 2026 core earnings growth outlook to 2.5% to 3.5%.
The close drew a sharp line between energy and the debt-sensitive chip trade, but the modest V I X and mixed sector board did not amount to a market-wide stress signal.
The next session will test whether crude keeps the inflation pressure alive or lower Treasury yields give growth stocks room to stabilize.
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