Stock market today: Live updates
Traders work at the New York Stock Exchange on June 9, 2026.
NYSE
U.S. equities dropped on Tuesday, even as oil prices pulled back, as a surge in chip stocks lost momentum after a one-day rally.
The S&P 500 lost 1.7%, while the Nasdaq Composite fell 3%. The Dow Jones Industrial Average traded down 354 points, or 0.7%.
The iShares Semiconductor ETF shed nearly 7% following a 6% rebound on Monday. The ETF had tumbled 10% on Friday for its worst day in six years as investors feared the AI-driven run in chips had risen too far, too fast. Micron Technology dropped almost 8% after Monday’s 10% comeback. The shares tumbled about 20% in two days last week, including a 13% rout on Friday. Broadcom, which had an equally steep two-day drop last week, fell 5% as Monday’s rebound fizzled.
“I think everybody’s a little nervous” ahead of the SpaceX IPO later this week, according to Jay Hatfield, CEO of Infrastructure Capital Advisors, noting that last Friday’s sell-off may have been related to SpaceX. “I think we’re going to be choppy until we get that behind us.”
Markets had risen earlier as energy prices fell amid hopes for a lasting cessation of hostilities in the Middle East.
West Texas Intermediate crude futures shed 5% to trade under $90 a barrel at around $86 after U.S. Energy Secretary Chris Wright said that Strait of Hormuz ship traffic is “rising very meaningfully.” The move also comes after President Donald Trump said that a deal between the U.S. and Iran could be reached in “two or three days” that reopens the Strait of Hormuz “immediately.”
Though energy stocks on the S&P 500 fell 2%, the fall in oil had an otherwise positive impact. Materials and consumer discretionary led the large-cap index, which also got a boost from real estate after better-than-expected data on existing home sales.
Iran on Monday halted military strikes against Israel, but warned it would resume attacks if Israeli forces continue operations in Lebanon, Tehran’s foreign ministry told CNBC on Monday. Hours later, Israeli Prime Minister Benjamin Netanyahu said the conflict with Iran and Hezbollah was “not yet over.”
OpenAI confidentially filed for an IPO late Monday, adding to enthusiasm around the AI trade. Space and AI play SpaceX is set to make its debut on Friday in what will be the largest IPO ever. The offering is seen by some as adding fuel to the AI-driven bull market, but some investors are wary that it could also mark a top in the trend with its $1.75 trillion valuation.
