US Stocks Lower as Tech Sector Drags

2026-06-10 13:40 By Joana Taborda 1 min. read

US stocks were lower on Wednesday, with the S&P 500 down 0.6%, the Nasdaq falling 0.8%, and the Dow Jones losing 280 points, as a renewed tech selloff weighed on sentiment amid lingering concerns over elevated AI-related valuations.

Nvidia (-1.4%), Broadcom (-3.9%), and Micron Technology (-3.5%) were lower and Oracle slipped 2.4% ahead of its earnings release.

The industrial sector also weakened, although energy stocks outperformed as oil prices rose amid continued strikes between Iran and the US.

US President Trump signaled that negotiations with Iran were taking “too long” and threatened more action.

Meanwhile, the latest CPI report showed US annual inflation accelerating to 4.2% in May while core inflation rose less than anticipated on a monthly basis, increasing 0.2%.

The data offered some relief that the energy-driven shock has not yet meaningfully spilled over into broader price pressures.

Still, markets continue to fully price in a 25bps rate hike by the Fed in December.



News Stream
US Stocks Lower as Tech Sector Drags
US stocks were lower on Wednesday, with the S&P 500 down 0.6%, the Nasdaq falling 0.8%, and the Dow Jones losing 280 points, as a renewed tech selloff weighed on sentiment amid lingering concerns over elevated AI-related valuations. Nvidia (-1.4%), Broadcom (-3.9%), and Micron Technology (-3.5%) were lower and Oracle slipped 2.4% ahead of its earnings release. The industrial sector also weakened, although energy stocks outperformed as oil prices rose amid continued strikes between Iran and the US. US President Trump signaled that negotiations with Iran were taking “too long” and threatened more action. Meanwhile, the latest CPI report showed US annual inflation accelerating to 4.2% in May while core inflation rose less than anticipated on a monthly basis, increasing 0.2%. The data offered some relief that the energy-driven shock has not yet meaningfully spilled over into broader price pressures. Still, markets continue to fully price in a 25bps rate hike by the Fed in December.
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US Futures Pare Some Losses But Remain in the Red
US stock futures pared some losses but remained in negative territory on Wednesday, with S&P 500 futures down 0.5%, Nasdaq 100 falling 0.8%, and Dow Jones losing around 250 points. Investors digested the latest CPI report, which showed annual inflation accelerating to 4.2% in May, in line with expectations, while core monthly inflation slowed more than anticipated to 0.2%. The data provided some relief that the energy shock has not yet significantly spilled over into broader price pressures. Following the release, traders slightly reduced expectations for Fed rate hikes this year, although a 25bps increase in December remains fully priced in. Meanwhile, sentiment continued to be weighed down by renewed weakness in tech stocks as concerns over elevated valuations resurfaced. Geopolitical tensions also remained in focus, with Iran and the US continuing to exchange strikes. In premarket trading, Nvidia fell 1.4%, Broadcom lost 1.3%, and Micron Technology dropped 2%.
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