Technology Shares Weigh on U. S.
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By Amanda Cooper LONDON, June 23 (Reuters) - Global stocks fell on Tuesday, led by broad-based declines in technology stocks, as investors expect the Federal Reserve to take more aggressive action to
A key phrase was missing in the latest Federal Open Market Committee (FOMC) statement, and it has massive implications for the stock market.
Stock futures were tumbling on Tuesday as investors continued to ditch technology stocks, which took a battering the previous session after a Nobel Prize-winning scientist left Google parent Alphabet for artificial intelligence start-up Anthropic. Nasdaq 100 futures plunged 2%. Dow Jones Industrial Average futures fell 323 points, or 0.6%.
The U.S. peace deal with Iran remains delicate, but investors seem to be too busy selling artificial intelligence stocks to notice. Iran war peace talks were fraught over the weekend—President Donald Trump threatened to restart the conflict and there was ongoing violence in Lebanon. With Wall Street largely optimistic that an end to hostilities will come sooner rather than later, tech was once again the real reason stocks were moving today.
Losses for Korean memory chipmakers fueled AI trade doubts, piling further pressure on techs even amid progress in US-Iran talks.

<body><p>STORY: Wall Street's main indexes closed mostly lower on Monday, with the exception of the Dow, which gained just under a third of a percent. The S&P 500 shed more than a third of a percent, while the Nasdaq dropped over 1.3%.</p><p>Shares of Elon Musk's SpaceX weighed heavily on the Nasdaq, plummeting more than 16% for their biggest single-day decline. The rocket and AI company launched its first-ever debt offering on Monday and said it had roughly $100 billion in cash and cash equivalents as of last Friday. SpaceX's stock is still trading above its IPO price of $135.</p><p>Optimism over AI has supported Wall Street's recent rally, but Melissa Brown, managing director of investment decision research at SimCorp, said the rally could be nearing its peak.</p><p>"Momentum tends to beget more momentum. So stocks do well, they continue to do well until something happens and they stop doing well. And then typically the market peaks at that point... I do think, though, that this kind of blowout, this huge surge of trading volume does suggest that the peak is closer than farther away."</p><p>Among other tech names, shares of Alphabet fell 5% following news that Google DeepMind's senior research scientist and Nobel laureate John Jumper said he was leaving for AI startup Anthropic, the lab's latest high-profile exit.</p><p>Shares of Meta, Amazon and Microsoft also closed lower Monday.</p><p>The next test for the tech rally will be Micron Technology's quarterly results on Wednesday. Shares of the memory chipmaker are up nearly 300% this year.</p><p>Among other movers, shares of Apogee Therapeutics soared nearly 47% after AbbVie said it would acquire the biotech company for $10.9 billion in cash. Shares of AbbVie rose more than 6%.</p><p>Meanwhile, oil prices fell as peace talks between Washington and Tehran continued in Switzerland - though tensions persisted over Lebanon and the Strait of Hormuz.</p></body>
In the most recent trading session, Cipher Digital Inc. (CIFR) closed at $28.14, indicating a -3.56% shift from the previous trading day.
In the closing of the recent trading day, BigBear.ai Holdings, Inc. (BBAI) stood at $3.83, denoting a -2.3% move from the preceding trading day.
HCI Group (HCI) reached $167.42 at the closing of the latest trading day, reflecting a +2.32% change compared to its last close.
In the closing of the recent trading day, Cleveland-Cliffs (CLF) stood at $11.89, denoting a -3.18% move from the preceding trading day.
The latest trading day saw Wingstop (WING) settling at $156.74, representing a -3.12% change from its previous close.
In the closing of the recent trading day, Consolidated Water (CWCO) stood at $29.02, denoting a -2.91% move from the preceding trading day.
The latest trading day saw United Parcel Service (UPS) settling at $107.24, representing a +2.27% change from its previous close.
StoneCo Ltd. (STNE) closed at $10.75 in the latest trading session, marking a +1.51% move from the prior day.
In the latest trading session, Unity Software Inc. (U) closed at $27.14, marking a -1.24% move from the previous day.
In the most recent trading session, Progressive (PGR) closed at $207.38, indicating a +1.23% shift from the previous trading day.
In the closing of the recent trading day, Rivian Automotive (RIVN) stood at $15.11, denoting a -8.57% move from the preceding trading day.
In the closing of the recent trading day, Reddit Inc. (RDDT) stood at $169.45, denoting a -3.15% move from the preceding trading day.
Plug Power (PLUG) concluded the recent trading session at $2.79, signifying a -2.11% move from its prior day's close.
In the latest trading session, Leidos (LDOS) closed at $104.84, marking a -2.13% move from the previous day.
Sea Limited Sponsored ADR (SE) closed the most recent trading day at $89.04, moving 2.45% from the previous trading session.