US stock market today: Markets close mixed as Micron-led chip selloff weighs on Nasdaq, Bitcoin falls below $60K
U.S. stock markets closed mixed on Wednesday. The S&P 500 slipped 0.1%, while the Nasdaq Composite fell 0.4%. The Dow Jones Industrial Average gained 184 points, or about 0.4%. The main reason for the weakness in the market was a decline in technology and semiconductor stocks ahead of Micron Technology’s earnings report after the market closed. Shares of Micron Technology fell nearly 6% during trading.
Memory-chip company Sandisk also dropped around 5%. Both Micron and Sandisk had already fallen about 13% in the previous trading session. Other chip stocks, including Advanced Micro Devices, also moved lower. Investors were waiting for Micron’s quarterly earnings report, which was scheduled to be released after the closing bell.
Analysts surveyed by FactSet expected Micron to report earnings of $20.83 per share on revenue of $35.75 billion, according to FactSet via CNBC. Wednesday’s weakness followed a major sell-off in technology stocks on Tuesday. Semiconductor-related stocks were heavily sold on Tuesday, causing the VanEck Semiconductor ETF to fall 7%.
Micron shares had been one of the market’s biggest winners in 2026 before this week’s decline.The stock reached a new all-time high on Monday. Micron ended Tuesday’s session at $1,051.77 per share.
Major indexes closing figures:
- Dow Jones Industrial Average: Up 148.60 points (+0.29%) to end at 51,816.91.
- S&P 500 Index: Fell 0.13% to 7,355.62.
- Nasdaq Composite: Dropped 0.71% to 29,139.62.
Oil prices fall sharply
Oil prices continued to decline for another day on Wednesday. International benchmark Brent Crude fell about 3% to around $74 per barrel. Brent crude touched its lowest level since before the United States and Israel launched airstrikes against Iran earlier this year. U.S. benchmark West Texas Intermediate dropped about 3% to around $70 per barrel.During the session, WTI crude fell below $70 and touched a low of $69.84 per barrel. This was the first time WTI traded below $70 since March 2.
Falling oil prices put pressure on energy stocks. Shares of Exxon Mobil fell more than 2%. Shares of Chevron dropped more than 2%. Shares of ConocoPhillips declined more than 2%. Shares of SLB also fell more than 2%. The Energy Select Sector SPDR Fund lost nearly 2%.
Treasury yields move lower
U.S. Treasury yields declined as oil prices fell. The yield on the 10-year Treasury note moved below 4.5%.
Alphabet rises after Dow announcement
Shares of Alphabet rose around 1%. The gain came after S&P Global announced that Alphabet will replace Verizon in the Dow Jones Industrial Average.
Bitcoin falls below $60,000 again
Bitcoin dropped to $59,023.98. Bitcoin reached its lowest level since October 2024. This was the third time in 2026 that Bitcoin traded below the $60,000 level. The cryptocurrency has been in a bear market for about eight months. Market experts said Bitcoin is facing pressure from several factors.
Also read: Bitcoin drops below $60,000 as concerns over Strategy spark fresh crypto market fears
Investors are moving money into artificial intelligence companies, IPOs and prediction markets. Rising inflation concerns linked to the Iran conflict have also hurt sentiment. A broader loss of confidence across the crypto market is creating additional pressure on Bitcoin prices.
Wendy’s stock surges in volatile trading
Shares of Wendy’s jumped sharply on Wednesday. At one point, the stock surged more than 42%. The rally was driven largely by strong buying from retail investors. Wendy’s announced that former Potbelly executive Steven Cirulis would become its new Chief Financial Officer and Chief Strategy Officer. However, the size of the stock rally suggested that retail investor enthusiasm played a bigger role than the management appointment.
Heavy trading caused the New York Stock Exchange to briefly halt Wendy’s shares due to volatility. After trading resumed, the stock climbed to an intraday high of $8.89 per share. Wendy’s was still up about 30% later in the session.
New home sales and Mortgage rates
The U.S. housing market showed signs of weakness in May. The Commerce Department reported that sales of new single-family homes fell sharply during the month. New home sales came in at a seasonally adjusted annual rate of 580,000 homes. That was 7.3% lower than the revised April figure. The result was also much weaker than economists’ forecast of 632,000 homes.
Even as sales slowed, home prices increased significantly. The average price of a new home rose to $540,600. That was 7.8% higher than April. It was also 5% higher than the same month a year earlier.
Mortgage rates increased during May. According to Mortgage News Daily, the average 30-year mortgage rate ended the month at 6.56%. The current 30-year mortgage rate stands at about 6.65%.
Which sectors performed (June 24, 2026)
Sector performance today
- Consumer Discretionary: +1.07%
- Industrials: +0.96%
- Health Care: +0.90%
- Utilities: +0.85%
- Consumer Staples: +0.61%
- Materials: +0.25%
Sectors that fell:
- Real Estate: -0.19%
- Financials: -0.23%
- Communication Services: -0.70%
- Information Technology: -1.11%
- Energy: -1.78%
The overall stock market closed mixed as investors sold technology and chip stocks ahead of Micron’s earnings report. Falling oil prices pushed energy stocks lower and helped Treasury yields decline. Bitcoin dropped below $60,000 again, showing continued weakness in the crypto market.