Stocks open lower as AI worries return and oil climbs
The Nasdaq fell about 1.4% in early trading after Tesla and Meta results, while Brent held near a five-month high.
U.S. stocks opened lower Thursday as earnings from Tesla and Meta failed to ease doubts about heavy artificial intelligence spending, and rising oil prices added pressure. In early trading, the Dow Jones Industrial Average fell about 0.5%, the S&P 500 about 0.9% and the Nasdaq Composite about 1.4%, with semiconductor stocks leading the decline.
Tesla and Meta extended their premarket declines, and chip stocks fell again after Wednesday's bounce, with Lam Research and Intel among the biggest early losers. Brent crude held above $111 a barrel after the attacks in Saudi Arabia; see our oil story and this morning's Toast & Tickers.
Going against the market, Lockheed Martin rose after raising its 2026 outlook, and Spotify gained on a stronger-than-expected forecast. Separately, weekly jobless claims fell to a three-month low; read our claims story.
