US Tech Stocks Sell Off

2026-06-23 13:35 By Andre Joaquim 1 min. read

US equity indices slumped on Tuesday amid a selloff in the heavyweight tech sector.

The Nasdaq 100 slid 3%, the S&P 500 dropped 1.5%, and the Dow lost 0.5%.

AI stocks tanked on increasing skepticism that spending by hyperscalers will not meet returns.

Nvidia and Tesla lost 4%.

On the same note, SpaceX plunged 16% as it issued bonds only one week after its IPO, adding to fears of colossal capital expenditure.

Chip stocks slipped as SK Hynix slowed production of advanced AI chips to boost commodity DRAM capacity, also aligned with concerns that AI datacenter speculation does not match fundamentals.

Micron tanked 11% ahead of its earnings tomorrow and Sandisk lost over 12%.

Treasury yields remained elevated despite the decline in energy prices following the hawkish dot plot last week, limiting any respite for traditional sectors of the economy.

Finance was pressured as Apollo once again capped private equity withdrawals.



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2026-06-23
US Tech Stocks Sell Off
US equity indices slumped on Tuesday amid a selloff in the heavyweight tech sector. The Nasdaq 100 slid 3%, the S&P 500 dropped 1.5%, and the Dow lost 0.5%. AI stocks tanked on increasing skepticism that spending by hyperscalers will not meet returns. Nvidia and Tesla lost 4%. On the same note, SpaceX plunged 16% as it issued bonds only one week after its IPO, adding to fears of colossal capital expenditure. Chip stocks slipped as SK Hynix slowed production of advanced AI chips to boost commodity DRAM capacity, also aligned with concerns that AI datacenter speculation does not match fundamentals. Micron tanked 11% ahead of its earnings tomorrow and Sandisk lost over 12%. Treasury yields remained elevated despite the decline in energy prices following the hawkish dot plot last week, limiting any respite for traditional sectors of the economy. Finance was pressured as Apollo once again capped private equity withdrawals.
2026-06-23
US Futures Slide on Tech Selloff
US equity futures slumped on Tuesday amid a selloff in the heavyweight tech sector. Contracts for the Nasdaq 100 slid 3%, the S&P 500 dropped 1.5%, and the Dow lost 0.7%. AI stocks tanked on increasing skepticism over spending in AI infrastructure by hyperscalers, and whether it will bring returns. The fears drove Alphabet and Amazon to sink nearly 4% on Monday. On the same note, SpaceX plunged 16% as it issued bonds only one week after its IPO, adding to fears of colossal spending on AI. Chip stocks were set to slide as SK Hynix slowed production of advanced AI chips to boost commodity DRAM capacity, also aligned with concerns that AI datacenter speculation does not match fundamentals. Micron slipped ahead of its earnings tomorrow. Treasury yields remained elevated despite the decline in energy prices following the hawkish dot plot last week, limiting any respite for traditional sectors of the economy. Finance was pressured as Apollo once again capped private equity withdrawals.
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