Wall Street closed lower on Friday, June 26, 2026, as the technology-heavy Nasdaq extended its losing streak to five consecutive sessions. Investors remained cautious, avoiding major commitments amid mounting concerns over the sector’s recent underperformance and broader macroeconomic uncertainty.
Major Indices Retreat
On the trading floor, the Dow Jones Industrial Average fell 0.09% to 51,876 points, while the broader S&P 500 declined 0.05% to 7,354. The Nasdaq dropped 0.24% to close at 25,297.
Semiconductor Stocks Under Pressure
Semiconductor stocks faced renewed selling pressure following reports from major international media outlets indicating that OpenAI is considering delaying its planned initial public offering (IPO) to 2027. The potential delay reportedly stems from disappointing market performance by SpaceX following its stock market debut, as well as ongoing volatility in artificial intelligence–related equities.
Inflation Rises, Rate Hike Expectations Grow
U.S. inflation climbed to 4.1% in May, as measured by the Personal Consumption Expenditures (PCE) price index—the Federal Reserve’s preferred gauge—up from 3.8% in April. It marks the highest level since 2023.
The core PCE index—which excludes volatile food and energy prices—rose to 3.4% from 3.3% in April, underscoring broadening inflationary pressures. According to data compiled by LSEG—one of the world’s largest financial markets infrastructure providers—investors now anticipate a 25-basis-point interest rate hike, with nearly a 30% probability assigned to a second increase before year-end.
Treasury Yields Edge Higher
In the bond market, the yield on the U.S. 10-year Treasury note rose two basis points to 4.37%.