Wall Street fell sharply, with the S&P 500 down 107 points, or 1.4%, to 7,365 and the Nasdaq down 579 points, or 2.2%, to 25,587, according to RTHK. The Dow Jones Industrial Average slipped 45 points, or 0.1%, to 51,666.
The Nasdaq was pressured by steep declines in semiconductor shares, with Micron Technology and Sandisk each falling more than 13%. Angelo Kourkafas of Edward Jones said the pullback reflected concerns about sentiment, valuations and positioning rather than a shift in the fundamental artificial intelligence story.
SpaceX fell below US$150 early in the session after three days of declines, but later reversed to close at US$156.11, up 1%. The company’s announcement of a bond offering added to investor unease, with Swissquote’s Ipek Ozkardeskaya saying it revived concerns that Big Tech may be spending too much on AI infrastructure and increasingly financing that spending through debt.
Oil prices slipped further as more tankers returned to the Strait of Hormuz following a US-Iran deal aimed at ending the Middle East war. Kpler data showed traffic through the strait on Monday reached the highest level since the start of the war.
STOCKS | S&P 500 Falls 1.4%, Nasdaq Drops 2.2% as Semiconductor Shares Slide
2026-06-23 23:08:01
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