# S&P 500 Index falls from its record, led by a slide in semiconductor and other tech companies.

*genai · news · 2026-04-29 · NDTV Profit*

## Key points

- OpenAI missed internal sales and new user targets for several recent months, raising investor concerns.
- The Philadelphia Semiconductor Index dropped 3.6%, with all 30 component stocks ending lower.
- UAE will exit the OPEC and OPEC+ oil producer groups as of May 1, 2024.
- Spotify plunged over 12% after forecasting lower-than-expected Q2 operating income.
- US consumer confidence unexpectedly climbed to the highest level since 2026 despite higher gasoline prices.

**Companies:** Amazon.com Inc., Alphabet Inc., Meta Platforms Inc., Microsoft Corp., Nvidia Corp., Broadcom Inc., Micron Technology Inc., Oracle Corp., OpenAI, CoreWeave Inc., Spotify Technology SA, Corning Inc.
**Countries:** United States, Iran, United Arab Emirates, Pakistan

[Read the full story on NDTV Profit](https://www.ndtvprofit.com/markets/wall-street-highlights-s-p-500-falls-from-peak-as-openai-fears-drag-on-tech-chipmakers-11423222)

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