Nasdaq Composite falls 337.38 points to 27,201.31 as OpenAI revenue report rattles AI stocks

The Nasdaq Composite closed down 337.38 points on October 8, 2026, finishing the session at 27,201.31. That works out to a 1.23 percent decline for the tech-heavy index. The timing stings. Just two trading days earlier, on October 6, the index had climbed to a record high of 27,722.75. What happened on October 8 The selling was concentrated where the Nasdaq is most exposed: technology and AI-linked shares. Intraday trading pushed the Composite to lows somewhere between 27,066 and 27,162. In other words, the 27,201.31 close came in slightly above the worst levels of the session. The index had already eased by the October 7 close, which landed at 27,538.69. The 337.38-point drop from that level is what turned a modest drift lower into a clear reversal from the recent peak. The catalyst was a Financial Times report on OpenAI’s revenue forecasts, which the report framed as lower than expected. OpenAI later clarified its figures, putting its annualized revenue run-rate at $50 billion. The clarification arrived after the selling had already spread. By then, the market had made up its mind for the day, and AI-exposed stocks closed lower across the board. Why one private company moved a pu...