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Chipmaker Retreat Drags Nasdaq 100 Down Nearly 2%

US stock indexes ended mixed on Tuesday, with the Nasdaq 100 dropping 1.89% due to a sharp decline in semiconductor stocks, while the Dow Jones Industrial Average rose 0.64% supported by energy and industrial shares. The S&P 500 fell 0.57%.

June 16, 2026
2 min read
Source: Barchart
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AVGOAVGOBroadcom Inc.ORCLORCLOracle CorporationAMDAMDAdvanced Micro Devices, Inc.CRMCRMSalesforce, Inc.QCOMQCOMQUALCOMM IncorporatedAMATAMATApplied Materials, Inc.LRCXLRCXLam Research CorporationKLACKLACKLA CorporationMRVLMRVLMarvell Technology, Inc.MUMUMicron Technology, Inc.NOWNOWServiceNow, Inc.PANWPANWPalo Alto Networks, Inc.CRWDCRWDCrowdStrike Holdings, Inc.FTNTFTNTFortinet, Inc.PLTRPLTRPalantir Technologies Inc.DDOGDDOGDatadog, Inc.COPCOPConocoPhillips

Key Numbers

SPX change
-0.57%
DOW change
+0.64%
NDX change
-1.89%
ESM26 change
-0.60%

US stock indexes ended mixed on Tuesday, with the Nasdaq 100 dropping 1.89% due to a sharp decline in semiconductor stocks, while the Dow Jones Industrial Average rose 0.64% supported by energy and industrial shares. The S&P 500 fell 0.57%.

Reasons for the Chip Sector Decline

Semiconductor stocks led the sell-off, with notable declines in:

  • Broadcom (AVGO)
  • Advanced Micro Devices (AMD)
  • Qualcomm (QCOM)
  • Applied Materials (AMAT)
  • Lam Research (LRCX)
  • KLA Corporation (KLAC)
  • Marvell Technology (MRVL)
  • Micron Technology (MU)

Other tech stocks such as Oracle (ORCL), Salesforce (CRM), ServiceNow (NOW), Palo Alto Networks (PANW), CrowdStrike (CRWD), Fortinet (FTNT), Palantir (PLTR), and Datadog (DDOG) also came under pressure.

Other Sector Performance

In contrast, the Dow Jones rose, boosted by gains in energy stocks like ConocoPhillips (COP), partially offsetting the tech weakness.

Futures Movement

June E-mini S&P 500 futures fell 0.60%, while Nasdaq futures dropped 1.89%, indicating continued pressure on tech stocks.

What This Means for Investors

The divergence between indexes reflects a shift in investor preference toward defensive and energy sectors away from high-growth tech stocks, amid ongoing uncertainty over interest rates and elevated valuations in the chip sector.

Frequently Asked Questions

The index fell 1.89% due to a broad decline in semiconductor stocks such as Broadcom, AMD, and Qualcomm.
Original source: Barchart

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.