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June 9, 2026 at 6:57pm ET
Stock Market Today: Nasdaq Rebounds Off Session Lows
Chip stocks remain a pressure point; oil prices drop
A nascent tech rebound. An abrupt slide. In a session that has had a bit of everything, stocks finished well off their session lows.
Tech stocks continue to weigh on indexes, with the Nasdaq composite down 1% at the 4 p.m. ET close. But indexes were off far more at about 12:40 p.m. ET, when they started paring losses. (The Nasdaq was down more than 3% at its low point.)
Analysts gave a variety of reasons for the day's volatile trading: Investors taking profits from the big tech runup. Worries about interest rates. Some noted that SpaceX expects to list its stock later this week, and the prospect of another trillion-dollar-plus company hitting the market may be causing investors to reposition at the expense of other major tech names.
Chip stocks remained a pressure point, even after stocks recovered ground. The same companies that have stoked stocks' recent gains are posting big losses, highlighting concerns that only a small group of stocks have powered recent records.
The PHLX Semiconductor Index fell 1.9%. Marvell Technology dropped 7.6%, Micron was down 1.4%, and Apple, Cisco Systems, Qualcomm and AMD were all off 3% or more.
Oil prices closed about 3% lower, with Brent ending the day at $91.45 a barrel and U.S.-based crude slipping to $88.20. On Monday, Iran and Israel called a halt to an exchange of fire. But late Tuesday, the U.S. launched strikes on Iran in retaliation for the downing of a U.S. Apache helicopter near the Strait of Hormuz, according to U.S. Central Command.
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