US Stocks Trade Muted After Chip Selloff

2026-06-24 13:37 By Andre Joaquim 1 min. read

US equity indices were muted on Wednesday following the selloff in the heavyweight chip sector yesterday.

The Nasdaq 100 and the S&P 500 were little changed.

Micron added 2% head of its earnings after the bell.

It followed the 13% plunge last session on fresh doubts that capital expenditures from AI companies were overdone and are due to slow.

Other semiconductor and memory producers halted the selloff, with Nvidia, Lam Research, and Sandisk in the green.

AI fundraising remained at soaring levels as SK Hynix was looking to raise $29 billion with a US listing shortly after the record SpaceX IPO.

In turn, yields remained elevated along the curve despite the return of oil prices to pre-Iran war levels on the outlook of a hawkish Fed.

Financial stocks traded muted ahead of the open.

The Dow was flat as it avoided the volatility from other indices due to lower exposure to tech, set to change on Monday when Alphabet replaces Verizon.

Financial companies weighed, with JPMorgan down 1%.



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US Stocks Trade Muted After Chip Selloff
US equity indices were muted on Wednesday following the selloff in the heavyweight chip sector yesterday. The Nasdaq 100 and the S&P 500 were little changed. Micron added 2% head of its earnings after the bell. It followed the 13% plunge last session on fresh doubts that capital expenditures from AI companies were overdone and are due to slow. Other semiconductor and memory producers halted the selloff, with Nvidia, Lam Research, and Sandisk in the green. AI fundraising remained at soaring levels as SK Hynix was looking to raise $29 billion with a US listing shortly after the record SpaceX IPO. In turn, yields remained elevated along the curve despite the return of oil prices to pre-Iran war levels on the outlook of a hawkish Fed. Financial stocks traded muted ahead of the open. The Dow was flat as it avoided the volatility from other indices due to lower exposure to tech, set to change on Monday when Alphabet replaces Verizon. Financial companies weighed, with JPMorgan down 1%.
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