S&P 500 Today: Oil Above $100 Deepens the Tech Selloff

Oil finally cracked triple digits again, and the tape flipped risk-off in a hurry. Brent settled above $100 per barrel after renewed shipping attacks, a headline that tends to land right on the growth end of the market.

By the close, the S&P 500 gave back ground while megacap tech saw the heaviest selling. Traders pinned the move on a mix of higher input costs, stickier inflation risk, and earnings updates that re-opened the conversation about AI spending.

Let’s unpack what actually moved and what matters next, without the noise.

Point Details Oil clears $100 Brent settled near $100.69 after tanker attacks in the Red Sea, a roughly 7% one-day jump AP News. S&P 500 lower Index closed around 7,408.30, down 1.21% with broad weakness led by megacap tech Los Angeles Times. Tech under pressure Nasdaq Composite fell about 2.15% as investors questioned AI capex intensity while oil spiked Reuters. Megacaps lead declines Tesla dropped roughly 14–15% and Alphabet slid about 7% after earnings updates and guidance Reuters. Rotation on the tape Energy and select defensives saw relative bids while long-duration growth lagged. Macro readthrough Higher oil can lift headline inflation expectations and firm rate path uncertainty.

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