# Nasdaq and S&P 500 slip Thursday as OpenAI IPO delay fuels tech

**Published:** 2026-06-28T17:59:35.996Z  
**Topic:** Stock Market  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/af2e52f4-b11f-4159-89b5-c1976a2d62a4

Nasdaq down 0.2% and S&P 500 off 0.1% on June 26, 2026, with weekly losses of 4.6% and 2% after OpenAI’s IPO postponement and a pullback in memory stocks.

The S&P 500 and Nasdaq each fell on Thursday, marking a fourth consecutive day of declines and pushing weekly losses to 2% and 4.6% respectively, after reports that OpenAI may postpone its IPO and memory‑chip stocks retreated [2].

| At a glance | |
|---|---|
| S&P 500 daily change | –0.1% |
| Nasdaq Composite daily change | –0.2% |
| Weekly loss (Nasdaq) | –4.6% |
| 10‑year Treasury yield | 4.40% (down 0.02 pts) |

## Tech sell‑off deepens

Mega‑cap technology names continued to tumble, with Nvidia and Alphabet each slipping about 2% while Microsoft rose 6% to become the day’s top gainer [2]. Apple recovered 3% after a price‑hike shock the previous day, but overall big‑tech pressure outweighed the modest gains. The broader chip sector also weakened; Micron, which had sparked a memory‑stock rally after a blockbuster quarter, fell 7% and other memory makers such as Western Digital, Seagate and Sandisk dropped double‑digit percentages [2]. The Nasdaq’s weekly decline was its second‑largest in the past year, eclipsed only by a 4.7% fall three weeks earlier [2].

## OpenAI IPO delay adds to volatility

The New York Times reported that OpenAI is considering postponing its highly anticipated IPO until next year, citing market volatility and the poor post‑IPO performance of Elon Musk’s newly listed SpaceX [2]. The news amplified already negative sentiment toward AI‑related equities, contributing to the pullback in the memory‑chip rally that had briefly lifted the Nasdaq on the prior session [2]. SoftBank, a major backer of OpenAI, saw its shares plunge 12% on the same day, underscoring the broader market impact of the potential delay [2].

## Market backdrop

Inflation data released the day before showed the PCE price index up 0.4% in May, lifting the annual rate to 4.1%—well above the Fed’s 2% target—while core PCE rose 0.3% month‑over‑month and 3.4% year‑over‑year [1]. Despite the data, the 10‑year Treasury yield slipped to 4.40% from 4.42% earlier in the session, a modest move that kept borrowing costs relatively stable [1]. Oil prices retreated, with WTI falling 3% to $70 a barrel after a prior rise on Middle‑East tensions [2].

## What to watch
- The Federal Reserve’s next policy meeting and any guidance on interest‑rate trajectory.  
- Upcoming PCE and CPI releases, which could reaffirm or ease inflation concerns.  
- Further developments on OpenAI’s IPO timeline, especially any formal filing or postponement announcement.

The twin pressures of a faltering AI rally and a retreat in memory‑chip gains left the tech‑heavy indexes flat to lower, highlighting how quickly sentiment can shift when a marquee IPO is delayed, even as broader macro indicators remain mixed.

## Sources
1. Investopedia — [Markets News, June 25, 2026: Nasdaq Slides as Tech Giants' Retreat Outweighs Micron-Led Memory Rally; Oil Rises as Mideast Tensions Flare](https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-06252026-12006401)
2. Investopedia — [Markets News, June 26, 2026: S&P 500, Nasdaq Post Weekly Losses as Tech Sell-Off Continues](https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-06262026-12007282)

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Cite as: TrendWatcher, "Nasdaq and S&P 500 slip Thursday as OpenAI IPO delay fuels tech", https://www.trendwatcher.in/article/af2e52f4-b11f-4159-89b5-c1976a2d62a4