US Stocks Close Lower on Tech Selloff

2026-06-23 20:09 By Isabela Couto 1 min. read

US stock indices closed negative on Tuesday amid a selloff in heavyweight chip producers.

The S&P 500 fell 1.4%, and the Nasdaq 100 lost 3.3% as AI infrastructure companies, including semiconductor and memory chip producers, tanked on increasing skepticism that AI spending by hyperscalers will not meet returns.

Also, SK Hynix slowed production of advanced AI chips to boost commodity DRAM capacity, a sign that demand for compute could slow.

Nvidia (-4.2%), Broadcom (-3.1%), Qualcomm (-8%), AMD (-5.8%), Micron (-13.2%), and Sandisk (-11.2%) posted losses.

Tesla lost 5.8% and Oracle slipped 5.8%.

Meanwhile, SpaceX added 1%, rebounding as it issued bonds only one week after its IPO, adding to caution on colossal capital expenditure.

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.

Gains for healthcare and consumer defensive companies aided the Dow to close near flat.



News Stream
US Futures Edge Lower
US stock futures slipped on Monday as investors remained cautious following a sharp rise in Treasury yields that pressured major averages last week. The Dow dropped 0.8% last week for its second consecutive weekly decline, while the S&P 500 and Nasdaq Composite fell 1.4% and 2%, respectively, snapping three-week winning streaks. The selloff came as the 30-year US Treasury yield climbed above 5.3%, reaching its highest level in nearly two decades, while bond yields in Japan, France and Germany also rose to multi-year highs. Investors remained concerned that the prolonged US-Iran conflict could keep oil prices elevated and fuel inflation, limiting the scope for lower interest rates. Meanwhile, Treasury Secretary Scott Bessent is set to announce new sanctions on Iran, while markets await the July PCE inflation report and Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole symposium later this week. Nvidia and Marvell Technology earnings will also be closely watched this week.
2026-08-24
The Dow Jones Index Closes 1.05% Higher
The Dow Jones Index gained 555 points or 1.05 percent on Friday to close at 53315 points. Gains were led by Goldman Sachs (3.94%), Merck (2.27%) and Salesforce (1.91%).
2026-08-21
US Stocks Rise on Strong Business Activity
US stock indices closed higher on Friday, pausing the week’s losses on solid economic data. The S&P 500 gained 0.4%, the Nasdaq 100 rose 0.3%, and the Dow added 518 points. Equities advanced after a report showed US business activity grew at its fastest pace in more than four years. Meanwhile, markets continued to assess a recent surge in bond yields driven by inflation and fiscal concerns. Long-dated Treasury yields remained near levels seen before the Treasury announced a larger bond buyback, while the dollar extended its decline. Hyperscalers gained, with Alphabet up 1.1%, Microsoft adding 0.4% and Meta rising 0.8%. Chipmakers traded mixed, with Nvidia down 1%, Micron losing 0.8% and Intel retreating 2.2%. Walmart fell over 10% on the week after a rare earnings miss weighed on its outlook and raised concerns over US consumers.
2026-08-21