NEW YORK, June 9, 2026, 16:03 EDT
Dow edges up as tech slump weighs on market
The Dow Jones Industrial Average inched up 16 points on Tuesday, while a late-session tech slide pulled the market down. The Dow finished 15.98 points, or 0.03%, higher at 50,801.99. The S&P 500 gave up 39.47 points, or 0.53%, to 7,366.26. The Nasdaq Composite shed 314.38 points, or 1.21%, to 25,615.28.
The split made a difference as investors pulled back from crowded plays in artificial intelligence and chips, leaving other stocks mostly alone. The Dow works as a price-weighted average of 30 major U.S. blue chips, so the higher-priced names move the index more than the cheaper stocks.
Stocks slid after President Donald Trump said the U.S. needs to respond to Iran’s downing of a U.S. Apache helicopter near the Strait of Hormuz, shaking hopes for Middle East de-escalation. The Cboe Volatility Index, seen as Wall Street’s fear gauge tracking expected market swings, jumped to its highest since April 7 during the drop.
The early rally faded quickly, said Sahak Manuelian, managing director for global equities trading at Wedbush Securities, calling it “very, very short-lived.” Gene Goldman, chief investment officer at Cetera, said there was still “a lingering bit of caution” ahead of the inflation numbers. Reuters
Inflation data comes out Wednesday. The Bureau of Labor Statistics is set to release its May Consumer Price Index at 8:30 a.m. ET on June 10.
Chip and AI stocks dragged the market. Micron Technology swung from up 4.2% early to close down 4.3%. Marvell Technology slipped 4.4%. Advanced Micro Devices tumbled 9%. Those losses helped send the Nasdaq sharply lower, while the Dow ended with less movement.
Home Depot, Sherwin-Williams and Nike ended near the top of the Dow in late trading, while Salesforce, Apple and Cisco trailed. That result left the Dow little changed, with large tech names putting pressure on the S&P 500 and Nasdaq.
Michael O’Rourke, chief market strategist at JonesTrading, said Trump’s post “created another leg down.” He said the market had already rebounded a bit from its lowest point before that. O’Rourke called the move “more of a momentum unwind,” with investors selling stocks that had gone up fast. Reuters
Oil slipped, offering stocks brief support, but worries stuck around. Brent crude lost about 3%. The 10-year Treasury yield dropped to 4.53% from 4.56% late Monday, according to AP.
This week’s big event for liquidity could be the anticipated SpaceX market debut. Reuters said the company wants to raise $75 billion in its initial public offering at a $1.75 trillion valuation. Some strategists told Reuters investors might sell semiconductor stocks to free up cash for the stock sale.
The Dow ended flat, but downside risk remains. A hotter CPI or rising tension with Iran could push rate-hike bets higher, hit high-valuation tech names again, and widen Tuesday’s narrow tech selloff into a broader pullback.
Dow steadied, but Nasdaq dropped after the bell, delivering a choppy message to investors. Traders head into Wednesday with less conviction in a quick AI rebound than they showed earlier in the session.
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