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 tech sector’s performance and broader inflationary pressures.
Major Indices Retreat
The Dow Jones Industrial Average slipped 0.09% to 51,876 points. The broader S&P 500 fell 0.05% to 7,354, while the Nasdaq dropped 0.24% to 25,297 — marking its fifth straight day of losses.
Semiconductor Stocks Under Pressure
Shares of semiconductor manufacturers came under 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 SpaceX’s underwhelming market debut and ongoing volatility across artificial intelligence–related stocks.
Inflation Rebounds, Raising Rate Concerns
U.S. inflation, as measured by the Personal Consumption Expenditures (PCE) price index — the Federal Reserve’s preferred gauge — rose to 4.1% in May, up from 3.8% in April. That marks the highest level since 2023. Core PCE inflation — excluding food and energy — edged up to 3.4% from 3.3% in April, signaling broadening price 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 by the Fed, with nearly a 30% probability assigned to a second increase before year-end.
Bond Yields Rise
In the bond market, the yield on the U.S. 10-year Treasury note rose two basis points to 4.37%.