Global tech rout deepens as AI chip sell-off sparks market turmoil
On June 23, 2026, a severe global sell-off in memory chip and AI-related stocks triggered sharp declines across major markets. South Korea’s Kospi plunged nearly 10%, led by SK Hynix and Samsung (each down over 12%). The rout spread to U.S. and European indices, with Nasdaq 100 futures dropping 2.8%, the S&P 500 falling 1.4%, and the Stoxx 600 Technology index losing 3.2%. Fears of overstretched AI valuations, high U.S. interest rates, and profit-taking worsened the downturn, wiping out hundreds of billions in market value.
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Nasdaq Futures Plunge as Chip Selloff Deepens; Netflix Sinks on Disappointing Forecast
On July 17, 2026, Nasdaq 100 futures fell 1.61% as a global selloff in chip and AI infrastructure stocks deepened, driven by stretched valuations and a surprise breakthrough from Chinese AI startup Moonshot, whose Kimi K3 model rivals OpenAI and Anthropic. Netflix shares dropped over 9% pre-market after reporting weaker-than-expected Q2 revenue and forecasting slowing sales growth. Escalating Middle East tensions added to market jitters, with US forces striking Iranian targets in the Strait of Hormuz and Iran retaliating against US bases, pushing WTI crude up over 2%. US economic data showed resilient retail sales and a strong Philly Fed manufacturing index, but pending home sales fell sharply. Fed officials, including Vice Chair Jefferson and Dallas Fed President Logan, signaled potential rate hikes if inflation does not cool. The selloff hit Asian markets, with Taiwan and Japan entering technical correction.
Yahoo FinanceStocks Settle Lower as Chipmakers and AI Stocks Slump
On July 16, 2026, U.S. stock indexes closed lower, with the Nasdaq 100 falling to a one-week low, driven by a slump in chipmaker and AI-infrastructure stocks. Concerns over whether massive AI investments justify current valuations weighed on the market. South Korea's Kospi Index plunged 6%, pressured by losses in SK Hynix and Samsung Electronics. Alphabet dropped over 4% after reports that Google is months behind in delivering its most powerful AI model. Technology laggards like software stocks rose as investors rotated into underperforming sectors. Economic data showed a stronger labor market and a jump in the Philadelphia Fed business outlook survey, but hawkish Fed comments pushed bond yields higher. Geopolitical risks escalated as the U.S. launched airstrikes on Iran, and Iran retaliated by firing on American bases in Kuwait and Jordan. The Strait of Hormuz oil flows have slumped significantly.
Yahoo FinanceMarkets News: Nasdaq Drops, Indexes Retreat as AI Spending Concerns Weigh on Chip Stocks
On July 16, 2026, major U.S. stock indexes finished lower, snapping two-day winning streaks, as chipmakers declined amid renewed concerns about AI spending. The Nasdaq fell 1.5%, the S&P 500 dropped 0.5%, and the Dow Jones Industrial Average slipped 0.2%. Memory stocks extended losses, with SK Hynix falling 14% and the Roundhill Memory ETF declining nearly 9%. TSMC slipped over 2% despite better-than-expected results and an increased capex forecast. UnitedHealth Group rose 1% after lifting its full-year profit outlook. Abbott Laboratories soared 11% to lead the S&P 500. Alphabet fell 4.5% on a report that Google's Gemini 3.5 Pro AI model is behind schedule. SpaceX shares closed below their IPO price for the first time. Economic data showed U.S. retail sales rose 0.2% in June, matching estimates, and jobless claims were lower than expected. Oil prices fell modestly amid Middle East tensions, with WTI at $79/barrel. The 10-year Treasury yield was around 4.57%.
Yahoo FinanceUS stocks: Wall Street ends lower as Iran tensions dampen risk appetite; chipmakers drop
Wall Street ended lower on Monday, July 13, 2026, as escalating tensions with Iran dampened investor risk appetite, with technology and chipmaker stocks leading the decline. SK Hynix, the South Korean memory chip maker, sank 9.3% after its debut on the Nasdaq the previous Friday. All three major US indices closed in negative territory, reflecting broader market concerns over geopolitical instability and its potential impact on global trade and supply chains. The drop in chip stocks was particularly pronounced, signaling investor unease about the semiconductor sector amid heightened international tensions.
The Business TimesUS stocks: Nasdaq sinks as AI worries hit chipmakers
On July 7, 2026, the Nasdaq Composite Index fell sharply by 1.16% to close at 25,818.69 points, driven by losses in chipmaker stocks such as Micron Technology. The decline was attributed to growing investor concerns about the sustainability of the artificial intelligence (AI) sector, which has been a key driver of market gains. All three major US indices closed lower on Tuesday, reflecting broader market unease. The article, published by The Business Times Singapore, highlights the impact of AI-related anxieties on technology stocks, particularly semiconductor companies, signaling a potential shift in market sentiment toward the tech sector.
The Business TimesUS stocks: Nasdaq sinks as AI worries hit chipmakers
On Tuesday, July 7, 2026, the Nasdaq Composite Index fell sharply by 1.16% to close at 25,818.69 points, driven by losses in semiconductor stocks including Micron Technology. The decline was attributed to growing investor concerns about the sustainability of the artificial intelligence-driven rally on Wall Street. All three major US indices closed lower, with chipmakers particularly affected by doubts over AI sector momentum. The article, published by The Business Times Singapore, highlights the market's sensitivity to AI-related sentiment and its impact on technology-heavy indexes.
The Business TimesNASDAQ Drops 3% as Micron, Intel, AMD Tumble; IBM Bucks Trend on Upgrade
The NASDAQ-100 experienced a sharp 3% drop on June 24, 2026, driven by a broad tech sell-off led by memory chip stocks. Micron Technology cratered over 10% despite a strong earnings beat and a forward P/E of 11, as investors unwound positions after a historic 716% one-year gain. The sell-off spread to Seagate (-6.31%), Intel, and AMD (-4.77%). In contrast, IBM surged 5% following a JPMorgan upgrade. Oracle fell 4% after disclosing it cut 21,000 jobs to fund its largest-ever cloud buildout. The article notes the sell-off is a classic positioning unwind rather than a fundamental deterioration, with strong underlying earnings and guidance from most affected companies.
Yahoo FinanceStock Market Today, June 23: Sandisk Leads Tech Stock Slide as South Korea Jitters Trigger Global Pullback at Midday
On June 23, 2026, U.S. stock markets experienced a global pullback led by a sharp decline in technology stocks, triggered by jitters from South Korea. The S&P 500 fell 1.06% to 7,393.73, and the Nasdaq Composite sank 1.56% to 25,759.41 amid an intensifying technology rout. The Dow Jones Industrial Average edged up 0.09% to 51,758.04. Sandisk tumbled over 12% and Western Digital dropped 8%, with the sell-off in South Korean memory giants spreading to U.S. chipmakers. Micron Technology also dropped almost 11% ahead of its earnings. IBM bucked the trend, rising nearly 5% following a JPMorgan upgrade. Walmart stock increased after signing a 15-year nuclear power deal with Constellation Energy. Gold prices fell 1.35% to $4,134.70, and the 10-Year Treasury yield slid to 4.48%. The article notes that AI valuation concerns, regulatory changes, and forced liquidations contributed to South Korea's Kospi falling nearly 10%, its biggest drop in over three months.
Yahoo FinanceMemory Stocks Tumble As South Korean Rout Spreads to U.S. Markets
Memory stocks fell sharply on Tuesday, June 23, 2026, as a selloff in South Korean tech stocks spread to U.S. markets. The rout began with SK Hynix and Samsung, dragging the Kospi index down nearly 10%. The decline rippled through the Roundhill Memory ETF (DRAM), with SK Hynix down 13%, Samsung down 12.3%, and Micron down 11%. Sandisk was the hardest hit, dropping over 13%, while Western Digital fell over 9%. The Nasdaq fell 1.9%. Analysts noted that Sandisk had surged 4,140% over the past year driven by AI data center demand, suggesting some profit-taking may be occurring. Wedbush analyst Dan Ives remained bullish on AI winners, but others warned about market concentration risks. Micron is set to report Q3 earnings on Wednesday, which will be a key indicator for the sector.
Yahoo FinanceMemory Stocks Tumble as South Korean Market Rout Spreads to US
Memory stocks fell sharply on Tuesday, June 23, 2026, following a historic selloff in South Korean tech stocks led by SK Hynix and Samsung, which caused the Kospi index to drop nearly 10%. The rout spread to US markets, dragging the Nasdaq down 1.9%. Sandisk was the heaviest hit, down over 13%, while Western Digital fell over 9%. Analysts suggest profit-taking after Sandisk's 4,140% surge over the past year, but Wedbush Securities remains bullish on AI winners. Others warn of emerging cracks in the AI trade due to market concentration. Micron is set to report Q3 earnings on Wednesday, which could provide further direction.
Yahoo FinanceTech Stocks Tumble on Wall Street, Raising Concerns Over AI and Chip Bubble
On June 23, 2026, a broad sell-off in technology and semiconductor stocks rattled global markets, with the Nasdaq Composite Index dropping nearly 2% and South Korea's Kospi index plunging 10%, triggering a trading halt. Major chipmakers including Samsung, SK Hynix, Micron, and Sandisk suffered heavy losses. The downturn spread to European semiconductor firms like STMicroelectronics, Infineon, and ASML. However, analysts at Morgan Stanley and BNP Paribas downplayed fears of an AI bubble burst, calling the sell-off a healthy correction. They noted that the Nasdaq's price-to-earnings ratio of 23 is far below the 48 peak seen before the dot-com bubble burst. Concerns over cash flow for AI companies and potential Federal Reserve interest rate hikes were cited as underlying triggers. Despite the drop, the Nasdaq remains up 12.6% year-to-date. The article also highlights notable individual stock declines, including Alphabet, Nvidia, and SpaceX.
Yahoo FinanceChip Stocks Crack Amid Growing AI Worries; South Korea's Kospi Plunges 10%
Global tech and chip stocks experienced a sharp sell-off as AI trade concerns intensified. South Korea's Kospi index plunged 10% in overnight trading, triggering circuit breakers for the fourth time in 2026. Leading chipmakers Samsung Electronics and SK Hynix were hit hard, while a volatility gauge surged near Great Financial Crisis levels. In the US, tech stocks fell 2%, and SpaceX lost over $600 billion in market cap since its IPO last Friday, falling below its $150 opening price. Meanwhile, Oracle slashed 21,000 jobs (13% of workforce) as part of a $70 billion cost-cutting and investment plan mirroring moves by Meta and Alphabet. Gold and silver also sold off, while crude oil, Treasuries, and the US dollar remained relatively stable. In IPO news, Italian software firm Bending Spoons (owner of Vimeo, Eventbrite, WeTransfer) seeks to raise up to $1.6 billion for a July Nasdaq listing under ticker BSP.
Yahoo FinanceTech stocks plunge as AI bubble fears intensify
On June 23, 2026, tech stocks experienced a sharp decline driven by growing fears of an AI bubble. The Nasdaq Composite Index fell 2.5% shortly after the opening bell, while the S&P 500 dropped roughly 1%. Memory chip and data storage companies were hit particularly hard, following a 10% overnight drop in South Korea's KOSPI index, which is dominated by memory chip makers. In the U.S., Micron fell over 10%, Sandisk plunged more than 12%, and Seagate and Western Digital both dropped around 8%. These stocks had been major beneficiaries of the AI infrastructure boom. SpaceX, which went public less than two weeks prior, briefly fell below its $150 IPO price, reflecting its status as an AI-linked play. The article notes it is too early to determine if this is a serious market shakeout or a temporary rebalancing.
Yahoo FinanceDow Flat, Nasdaq Slumps as Investors Pull Back from AI and Chip Stocks
On June 23, 2026, Wall Street ended sharply lower with the Nasdaq falling 580 points (2.2%) as investors pulled back from the artificial intelligence trade, sending technology and semiconductor stocks tumbling. The S&P 500 dropped 107 points (1.4%) to 7,365, while the Dow Jones remained relatively resilient, slipping just 46 points (0.1%) to 51,667. Chip stocks were hardest hit, with Nvidia falling over 4%, Micron Technology plunging more than 13% ahead of its quarterly results, and AMD and Intel posting steep declines. The selloff reflected cooling sentiment on AI-driven rallies due to concerns about spending and lofty valuations. Other market moves included SpaceX rebounding 2.5% after a steep post-IPO selloff, Carnival dropping 6% on weak guidance, and Oracle cutting 21,000 jobs citing AI use. Oil fell to near $73 per barrel on a US-Iran interim peace deal, while gold and silver declined on rate hike expectations.
Yahoo FinanceU.S. Futures Slump as Global Tech and Chipmaker Stocks Sell Off
Global markets and U.S. futures slumped early on Tuesday, June 23, 2026, led by a major selloff in tech and chip stocks amid concerns about the AI-driven stock rally and potential high U.S. interest rates. The tech-heavy NASDAQ Futures fell over 2.5% to 29,874.50 points, while S&P 500 Futures dropped 1.2% and Dow Futures fell 0.37%. The selloff was triggered by a massive rout in South Korea, where the KOSPI Index dropped more than 8%, triggering a circuit breaker, led by a 12% decline in memory chipmakers SK Hynix and Samsung. In the U.S., Micron fell over 8.5% in premarket trading. Other major tech stocks also declined: Nvidia dropped 3.15%, AMD fell 6.1%, Intel slid 7.36%, Google dropped 2.39%, and SpaceX fell 3.8%. Japan's Nikkei 225 fell 3.55%, Hong Kong's Hang Seng dropped 1.82%, and European indices were also down. The South Korean market rout slashed more than $4.6 billion from Samsung Executive Chair Jay Y. Lee's fortune, though he remains Korea's richest person with an estimated net worth of $118.6 billion.
Forbes - BusinessGlobal tech stocks rout deepens with 10% drop in South Korea
Global stocks experienced a significant selloff on Tuesday, June 23, 2026, led by deep losses in the technology sector following a losing session on Wall Street. Asian markets were hit hardest, with South Korea's tech-heavy Kospi index closing 10% lower, dragged down by major chipmakers SK Hynix and Samsung, both down over 12%. European markets also fell sharply, with the pan-European Stoxx 600 shedding 1.2% and the Stoxx 600 Technology index dropping 3.2%. European chipmakers STMicroelectronics and ASMI were down more than 7%. In the U.S., futures tied to the tech-heavy Nasdaq 100 index lost 2.7% ahead of regular trading, signaling continued pressure on major companies like Nvidia, Apple, Alphabet, and Microsoft. The selloff follows a $600 billion wipeout in SpaceX-related valuations, exacerbating investor fears and driving a broad global market decline.
US Top News and AnalysisNasdaq and S&P 500 futures plunge as global chip sell-off sparks AI valuation concerns
On June 23, 2026, Nasdaq and S&P 500 futures fell sharply amid a global sell-off in memory chip stocks that raised fresh doubts about overstretched AI valuations. Nasdaq 100 futures dropped 2.8%, S&P 500 futures fell 1.4%, and Dow futures slid 0.5%. The rout was led by South Korean chip giants SK Hynix and Samsung Electronics, which each lost over 12%, dragging the Kospi index down 10%. The sell-off puts pressure on Micron ahead of its earnings release on Wednesday, with shares down 10% in premarket trading after hitting a record high on Monday. SpaceX continued its decline, falling 5% before the bell and set to dip below $2 trillion in market value. Meanwhile, US-Iran negotiations showed signs of progress, with the US issuing a 60-day waiver on oil sanctions against Iran. Earnings reports from FedEx and Cerebras Systems are expected later on Tuesday.
Yahoo FinanceS&P 500 and Nasdaq Sink as AI Trade Cools, Semiconductor Stocks Retreat
US stock markets slid on June 23, 2026, with the Nasdaq Composite falling approximately 2.1% and the S&P 500 losing 1.4%, driven by a sell-off in memory chipmakers that raised doubts about overstretched AI valuations. Major South Korean chip stocks SK Hynix and Samsung Electronics each fell over 12%, dragging the Kospi index down 10%. The decline intensified ahead of Micron Technology's earnings release on Wednesday, as its shares plunged over 13% after hitting a record high the previous day. The Dow Jones Industrial Average fell just below flat. Meanwhile, progress in US-Iran nuclear negotiations led to a 60-day waiver on oil sanctions and increased traffic through the Strait of Hormuz, causing Brent and WTI crude futures to decline.
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