Nasdaq drops 1% as OpenAI pause, oil surge, and bond yields hit stocks

Nasdaq fell 1% as stocks declined on an OpenAI training halt, a surge in oil prices, and rising bond yields. The market decline was driven by investor concerns over an OpenAI training pause, which revived fears of an AI slowdown, alongside higher oil costs and climbing yields pressuring equities. Asia chip stocks also slid following the OpenAI news, while prediction markets' expansion into US stocks raised regulatory concerns, adding to broader market uncertainty.