# Nasdaq drops over 300 points in early trade.

*fintech · news · 2026-04-28 · The Economic Times*

## Key points

- Nasdaq is crashing as reports reveal OpenAI missed internal revenue and user expectations.
- The United Arab Emirates announced its exit from OPEC starting May 1, escalating oil supply risks.
- Spotify plunged 12% after weak guidance, highlighting softness in tech-related earnings.
- Climbing Treasury yields near 4.37% are pressuring high-growth tech sectors more than others.
- Money is rotating from growth stocks into defensive and smaller names amid rising market uncertainty.

**Companies:** Apple, NVIDIA, Microsoft, Alphabet, Amazon, Meta Platforms, Tesla, Pfizer, General Motors, UPS, Spotify, Oracle, Advanced Micro Devices, Intel, Coca-Cola
**Countries:** United States, United Arab Emirates, Iran

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/news/international/us/us-stock-market-today-why-is-nasdaq-crashing-big-today-dow-and-sp-500-slip-as-nasdaq-plunges-over-300-points-nvidia-amd-intel-lead-tech-losses/articleshow/130583523.cms)

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