Nasdaq drops 1% as OpenAI halts training, oil and yields weigh on stocks

Nasdaq fell 1% on September 28, 2026, as stocks declined amid an OpenAI training halt, surging oil prices, and rising bond yields. The market drop was driven by renewed AI slowdown fears after OpenAI paused training, while higher oil costs and climbing yields pressured equities. Asia chip stocks also slid on similar concerns. Broader context includes an RBA rate decision expected with a 25 basis point cut, Trump's claim that oil prices will fall after war ends, and regulatory concerns over prediction markets entering US stocks.