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June 26, 2026 at 7:05am ET
Stock Market Today: Nasdaq Futures Fall as Tech Selloff Deepens
Chip makers lead declines; oil edges closer to pre-war levels
Stocks are closing out a turbulent week with another slide.
U.S. stock futures are slipping, following a fourth-straight decline for the S&P 500 and Nasdaq yesterday. Tech stocks are under pressure again, with chip makers leading the declines.
Global indexes closely tied to AI also took a hit this morning. Japan’s benchmark index slid more than 4%, weighed down by a 13% plunge in Softbank Group's shares, after a media report suggested OpenAI could hold off going public until next year.
Investors have tapped the brakes on the tech trade this week, as doubts creep in over whether the AI boom can keep running this hot. That’s raised the stakes for the broader market rally, given how much of this year’s gains have been riding on a handful of tech giants.
Both the Nasdaq and S&P 500 are headed for weekly losses, with the Nasdaq down 4.4% this week through Thursday. The Dow has managed to eke out a small gain for the week.
Traders are also keeping an eye on oil prices, which whipsawed yesterday after Iran attacked a Singapore-flagged cargo ship in the Strait of Hormuz. Brent crude futures are resuming their downward retreat, losing more than 3% to trade under $73 a barrel.
— By Caitlin McCabe
Read Original at WSJ →