The Nasdaq Composite index fell by 337.38 points on October 8, 2026, closing at 27,201.31. This represents a 1.23 percent decline for the index, which had reached a record high of 27,722.75 just two trading days earlier on October 6.
The decline was triggered by a Financial Times report regarding OpenAI's revenue forecasts, which were described as lower than anticipated. Although OpenAI later clarified that its annualized revenue run-rate stands at $50 billion, the market reaction had already impacted AI-linked technology stocks.
During the session, the index reached intraday lows between 27,066 and 27,162. The drop followed a close of 27,538.69 on October 7, marking a shift from the previous peak. Analysts are now observing whether the index can recover to the October 7 closing level.
The event highlights the sensitivity of tech valuations to forecast news. As many companies listed on the Nasdaq are tied to AI demand, OpenAI serves as a significant bellwether for the sector, despite not being publicly traded on the exchange itself.
