Financial Markets Wall Street
Options trader Anthony Spina, center, works on the floor of the New York Stock Exchange, 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 are rising on Wall Street as falling bond yields and lower oil prices help ease pressure on the market. The S&P 500 rose 0.8% in morning trading Wednesday. The index is coming off two days of declines driven by losses in Big Tech companies. The Dow rose 432 points, or 0.8%, and the Nasdaq composite rose 0.9%. Crude oil prices fell. Brent crude dropped 4%, bringing it closer to where it was before the war with Iran started. Gold briefly fell below $4,000 an ounce for the first time since November.
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