U.S. stock markets ended lower on Tuesday as tech stocks faced heavy selling pressure. The S&P 500 fell 1.3%, while the Nasdaq Composite dropped 2%. The Dow Jones Industrial Average stayed nearly flat, according to market data. The main reason for the fall was a sharp sell-off in technology and semiconductor stocks. Investors continued selling tech shares after weakness seen in the previous trading session.
Chip-related stocks were hit the hardest across global markets. The weakness started spreading overnight as semiconductor shares declined in Asia. U.S. chip stocks followed the global decline. Investors sold semiconductor shares heavily after the weakness seen in Asia.
Monday's weakness in tech stocks carried over into Tuesday's trading. The Nasdaq had already fallen 1.3% on Monday, mainly because of weakness in Alphabet. Selling pressure quickly spread to Asian markets.
Closing bell
U.S. stocks closed lower on Tuesday as a global sell-off in semiconductor and AI-related stocks weighed on markets. The S&P 500 fell 1.3%, while the Nasdaq Composite dropped 2%. The Dow Jones Industrial Average finished little changed, as gains in defensive stocks such as Walmart, Procter & Gamble, Johnson & Johnson, and IBM helped offset some of the losses in technology shares.
Major indexes closing figures:
- Dow Jones Industrial Average: Closed at 51,665.89, down 46.82 points or 0.09%.
- S&P 500 Index: Closed at 7,366.27, down 106.52 points or 1.43%.
- Nasdaq Composite: Closed at 25,609.75, down 556.85 points or 2.13%. (Via CNBC)
Also read: Federal appeals court allows Trump to expand fast-track deportations nationwide; ruling explained
The 9 S&P 500 stocks that hit new all-time highs on Tuesday were:
- Monster Beverage
- Assurant
- Allstate
- Bank of New York Mellon
- Citizens Financial Group
- Globe Life
- Northern Trust
- State Street
- Travelers
What moved the market?
Top gainer
{{/usCountry}}Also read: Federal appeals court allows Trump to expand fast-track deportations nationwide; ruling explained
The 9 S&P 500 stocks that hit new all-time highs on Tuesday were:
- Monster Beverage
- Assurant
- Allstate
- Bank of New York Mellon
- Citizens Financial Group
- Globe Life
- Northern Trust
- State Street
- Travelers
What moved the market?
Top gainer
{{/usCountry}}Some large companies helped reduce bigger market losses. Shares of Microsoft, Amazon, Walmart, Procter & Gamble, and Johnson & Johnson moved higher and helped major indexes recover from their session lows.
IBM was one of the biggest gainers of the day. IBM shares jumped 5% after JPMorgan upgraded the stock to "Overweight," according to JPMorgan's analyst note via CNBC. Other defensive and industrial stocks also rose. Sherwin-Williams and Merck posted gains during the session.
Top losers
Micron Technology was among the biggest losers. Micron shares dropped 11%. Other memory and storage companies also declined sharply. Sandisk fell 12%, while Seagate Technology lost more than 6%. Major semiconductor companies were broadly lower. Intel fell 4%, AMD dropped 5%, and Qualcomm declined 8%.
Technology-focused exchange-traded funds also took a hit.The Technology Select Sector SPDR ETF (XLK) fell 3%. Semiconductor ETFs saw even larger losses. The VanEck Semiconductor ETF (SMH) dropped 6%. SpaceX-related shares moved higher despite the broader market weakness. SpaceX gained around 6%.
Alphabet continued to face pressure. The Google parent company fell again after losing 5% on Monday. Investors remain worried about talent leaving Alphabet. Concerns over the departure of several high-profile AI employees continued to weigh on the stocks, as per CNBC report.
Also read: US stock market: Why are Wall Street futures falling today? AI fears trigger global tech selloff
Oil prices
Oil prices continued to fall. Crude prices dropped after the United States agreed to temporarily lift sanctions on Iranian oil sales while peace negotiations continue, according to Investing.com. U.S. crude oil moved lower. West Texas Intermediate (WTI) fell about 1% to around $73 per barrel.
Global oil benchmark Brent crude also declined. Brent crude traded near $77 per barrel. Oil prices remain above levels seen before the Iran conflict. Before the conflict, WTI was near $67 per barrel and Brent was around $73 per barrel.
Treasury yield bonds
Treasury yields were mostly unchanged. The 10-year Treasury yield slipped to 4.50% from 4.51% on Monday, according to bond market data. Mortgage rates and many consumer borrowing costs are influenced by the 10-year yield. The benchmark Treasury yield is closely watched because it affects borrowing costs across the economy, according to market analysts via Investing.com.
Bitcoin and Gold
Bitcoin pulled back after recent gains. Bitcoin traded near $62,100, down from levels above $65,000 seen a day earlier, according to cryptocurrency market data. Gold prices also moved lower. Gold futures fell more than 1% to around $4,135 per ounce, according to commodity market data noted by Investing.com.
Which sectors performed (June 24, 2026)
Top performing sectors
- Consumer Staples (+1.7%)
- Real Estate (+1.4%)
- Healthcare (+1.3%)
- Utilities (+0.9%)
Overall, Tuesday's market was dragged lower by a global sell-off in chip and AI stocks, while gains in defensive sectors helped limit losses. Now, investors are waiting for important earnings reports. AI chip company Cerebras was scheduled to report earnings after Tuesday's market close. Micron's earnings report is another major event investors are watching. Micron Technology is set to report results on Wednesday after the closing bell, according to company guidance.