Wall Street posted losses on Tuesday, June 23, 2026, with the Nasdaq — the benchmark index for technology stocks — falling 2.21% to close at 25,587.04 points. While tech shares led the decline, broader market sentiment remained weighed down by uncertainty surrounding developments in the Middle East, particularly around the conflict involving Iran.
Geopolitical Tensions Escalate
U.S. Secretary of State Marco Rubio heightened concerns over the regional situation, stating that ‘Iran could not impose tolls on the Strait of Hormuz under any future agreement with the United States, as such a move would violate international law.’ His remarks underscored ongoing diplomatic friction and added pressure on investor confidence.
Tech Stocks Lead the Decline
Major semiconductor and chipmakers drove the Nasdaq’s drop: Nvidia fell 4.15%, Intel dropped 6.1%, Marvell Technology plunged 9.4%, Micron Technology tumbled 13.2%, and Advanced Micro Devices declined 5.8%.
Elsewhere on Wall Street, the Dow Jones Industrial Average edged down 0.09% to 51,666.84, while the broader S&P 500 fell 1.44% to close at 7,365.46.
SpaceX Rebounds After Sharp Correction
SpaceX, Elon Musk’s aerospace company, posted gains after three consecutive trading-session declines. The firm had lost over $600 billion in market capitalization across those sessions as investors reassessed expectations tied to artificial intelligence and the high costs associated with SpaceX’s ambitious investment plans.
Bond Yields Fall
U.S. Treasury yields declined, reflecting a flight to safety: the 10-year yield dropped three basis points to 4.48%, while the 2-year yield fell four basis points to 4.19%.