Stock Market Today, Oct. 9: AT&T Slides on SpaceX Spectrum Deal Threat

SpaceX's acquisition of 800 MHz low-band spectrum triggered a sharp selloff in legacy wireless carriers on October 9, 2026. AT&T dropped 9.81%, Verizon fell 8.75%, and T-Mobile declined 13.27% as investors worried about increased competition and the erosion of the telecom oligopoly. However, analysts note AT&T's strong dividend yield (5%) and fiber infrastructure may provide some downside protection.