📰 Report
Wall Street’s three major indexes closed lower on April 28, 2026, with the Nasdaq Composite and S&P 500 both posting declines. Concerns about the AI industry’s growth prospects and rising international oil prices led investors to adopt a cautious stance ahead of the Big Tech earnings season.
According to Reuters, the S&P 500 and Nasdaq closed with modest losses. The market had already been oscillating under the valuation pressure of AI-related stocks. Investors remain uncertain about whether major technology companies can sustain their massive AI spending and translate it into meaningful revenue growth.
On the oil front, international crude prices remained above $112 per barrel, driven by persistent tensions between the U.S. and Iran. Uncertainty surrounding the Strait of Hormuz continues to support elevated energy prices, adding pressure on transportation and manufacturing costs.
Invezz analysis noted that the Dow Jones Industrial Average was also weighed down by the tech stock sell-off triggered by OpenAI’s revenue targets falling short of market expectations. Chip stocks and AI-related equities had previously seen significant pullbacks.
Market participants are closely watching the upcoming earnings reports from the “Magnificent Seven” (Mag 7) tech giants. With AI infrastructure investment continuing to accelerate, investors are eager to understand whether these companies’ AI strategies can generate substantial returns.
Gold and silver prices continued to climb on safe-haven demand, while Bitcoin retreated from above $77,000, reflecting a divergence in market risk appetite.
Analysts broadly agree that under the dual pressure of geopolitical uncertainty and questions about AI investment returns, markets are likely to remain volatile in the near term.