Stock Market News, June 23, 2026: Tech Slide Deepens as AI Fears Get Worse

The selloff in tech shares picked up steam Tuesday, with the Nasdaq composite off 2.2%.Stocks opened sharply lower, steadied a bit and then tested their lows on the day in afternoon trading. Intel, Nvidia, Oracle and Tesla fell 4% or more, following steep losses in big tech stocks on Monday. Chip maker Micron Technology, whose market value recently moved over $1 trillion, slid 13%, helping pull the S&P 500 lower 1.4%.SpaceX, which is wrapping up a big bond deal, dipped below its $150 post-IPO opening price before reversing course to climb to $156.11, breaking a three-session losing streak. The Dow industrials traded near flat much of the day, ending 0.1% lower.Falling oil prices haven’t been helping stocks much of late. Brent crude futures slipped 1.1%, or 82 cents, to $77.08 a barrel, the lowest settlement price since Feb. 27, the day before the U.S.-Israeli war with Iran started. Oil prices had fallen Monday on signals of progress in talks between Washington and Tehran.In recent days though, the artificial-intelligence rally has gone in reverse, prompted by fears of AI companies’ heavy spending and looming Federal Reserve interest-rate increases. Overseas markets fell, with South Korea’s Kospi diving 10%, weighed down by chip makers such as Samsung Electronics.