Financial Markets Wall Street Equinor
Anders Opedal, President and CEO of Norway's Equinor, left, meets with specialist Patrick King on the floor of the New York Stock Exchange, after he rang the closing bell, Tuesday, June 16, 2026.
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Pullbacks in big technology companies sent indexes lower on Wall Street. The S&P 500 fell 1.4% Tuesday. The selling was concentrated in AI-related companies that have had huge run-ups in recent months and sent the market to record after record, most recently in early June. Investors are becoming worried that the growing likelihood of interest rate hikes this year to fight inflation will weigh on economic growth. The Nasdaq fell 2.2%. The Dow, which has less weighting in tech, held up better with a drop of just 0.1%. Chip companies, which have soared in recent weeks, sank. Micron Technology lost 13.2%.
Stocks wavered to a mixed close on Wall Street as losses for several tech giants including Microsoft weighed on the market. The S&P 500 fell 0.1% on Wednesday, even though more stocks rose than fell within the index. The Dow added 0.4%, and the Nasdaq composite fell 0.4%. Another decline in oil prices helped ease concerns about inflation. Brent crude dropped 3.8%, bringing it closer to where it was before the war with Iran started. Treasury yields fell in the bond market. Google parent Alphabet slipped. The company will replace Verizon in the Dow next week.
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