Update: US Equity Indexes Drop as Sharp Sell-Off in Semiconductor Heavyweights Sinks Technology While Crude Oil Surges
MT newswire2026/10/08 19:3903:39 PM EDT, 10/08/2026 (MT Newswires) -- (Updates with index/price moves and geopolitical news from the first paragraph.) US equity indexes fell as a sell-off in semiconductors pushed technology to the bottom of sector charts, while crude oil surged ahead of Thursday's close. The Nasdaq Composite dropped 1.4% to 27,153.2, the S&P 500 declined 0.6% to 7,750.1, and the Dow Jones Industrial Average slid 0.1% to 51,114.6. Energy and consumer staples led gainers. Among stocks with market capitalization exceeding $200 billion, all of the top 10 names were technology companies, and within those, eight were from semiconductor-related industries, according to data compiled by Finviz. The three worst performers in this mega-cap category were Arm (ARM), Intel (INTC), and Oracle (ORCL), down by at least 6.1% each. Meanwhile, tankers are facing a higher risk of attacks and intimidation as they try to get critical shipments through the Strait of Hormuz after Iran issued new warnings that it would block routes that it has not authorized, sources told Reuters. This comes as tropical storm Isaias continues to strengthen ahead of landfall on the northern Gulf Coast by this weekend, CNN reported. The storm rapidly intensified into the Atlantic season's first hurricane on Wednesday night, the news report added. Chevron (CVX) has begun shut-in procedures for production at four Gulf of America facilities and is evacuating workers as Isaias approaches, the company said. Front-month US West Texas Intermediate crude oil contract advanced 3.8% to $91.67 per barrel, and global benchmark Brent jumped 4.3% to $104.51 per barrel even after President Donald Trump reportedly said Thursday that the US will not attack Iran before the mid-term elections in early November while pointing out "productive discussions" with Tehran. The US borrowing costs at Treasury auctions continued to rise on Thursday. An auction of $22 billion of 30-year bonds hit a high yield of 5.618%, up from 5.308% in the previous auction. The bid-to-cover ratio, which measur
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Updated Version 2 - SpaceX Targets U.S. Wireless Operators Through Spectrum Acquisition
Reuters, October 8 – SpaceX reached an agreement on Thursday to acquire a nationwide portfolio of low-frequency spectrum, enabling Elon Musk’s satellite business to mount direct orbital competition against traditional U.S. wireless telecom giants. While Starlink Mobile’s existing global 2 GHz mid-band spectrum will provide high bandwidth capacity, this new spectrum will allow its signals to penetrate obstacles. The financial terms of the deal have not been disclosed. This move accelerates billionaire Musk’s ambitions to bypass traditional wireless infrastructure and provide direct cellular network connections to smartphones from orbit. Low-frequency bands are highly valued in telecommunications for their ability to travel longer distances and penetrate dense structures such as walls and tree cover, thereby overcoming a major technical barrier previously faced by satellite mobile networks. The transaction involves the acquisition of 100% of the nationwide 800 MHz spectrum portfolio held by private equity firm Grain Management and is still subject to regulatory approval from the U.S. Federal Communications Commission (FCC). Telecom stocks fell as investors feared competition from SpaceX could trigger a fierce price war and erode their market share in the already saturated U.S. wireless market. The shares of T-Mobile US, Verizon, and AT&T all dropped more than 5% in after-hours trading. The FCC this week also approved Starlink Mobile’s application for a second-generation satellite constellation, authorizing SpaceX to launch 15,000 satellites worldwide optimized for the 2 GHz band. (For the convenience of non-native English speakers, Reuters automatically translates its reports into several other languages. As automated translation may contain errors or may lack required context, Reuters does not guarantee the accuracy of automated translation texts; they are provided solely for readers’ convenience. Reuters assumes no responsibility for any damages or losses resulting from the use of automated translation features.)
I-On Digital director John Jubilee resigns immediately
John Jubilee resigned from the board of I-On Digital, effective Oct. 5, 2026. Departure was not tied to any dispute over the company’s operations, policies, or practices. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. I-On Digital Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-046357), on October 08, 2026, and is solely responsible for the information contained therein.
IWF ETF Declines 1.3%
This article was automatically generated using Dow Jones technology. Shares of iShares Russell 1000 Growth ETF dropped 1.3% to $127.11 Thursday on what proved to be an overall negative trading session for the U.S. stock market, with the S&P 500 Index falling 0.5% to 7,765.36. This was the fund's second consecutive day of losses. The fund's underlying index, the Russell 1000 Growth Index, fell 1.3%. The ETF's shares closed 2.1% below the 52-week high of $129.80 seen on October 6, 2026. Trading volume was 4,726,199, compared to the 65-day average trading volume of 3,881,173. As of October 7, the fund's net asset value totaled $128.81 per share. Data source: Dow Jones Market Data, FactSet (END) Dow Jones Newswires October 08, 2026 16:36 ET (20:36 GMT)
