Monday's semiconductor rebound didn't last long. Apple's AI reveal and renewed chip weakness are dragging down the major indexes.
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The Nasdaq is bouncing off its lows, but the market’s fear gauge is above a key level. The tech-heavy index is down 1.8% after falling more than 3.6%. The S&P 500 is down 0.9%. The Dow is down just 84 points, or 0.
Despite some recent volatility, Micron stock is still up well over 200% in 2026.
What does SpaceX's upcoming IPO have to do with Apple stock?
Major indexes had opened higher on hopes for a U.S.-Iran deal, then reversed as tech stocks wiped out earlier gains
AI Trade Weakens, Sending Nasdaq Lower
Chip stocks fell across the board, with the iShares Semiconductor ETF falling nearly 8% in Tuesday morning’s trade.

The excitement is building around the SpaceX IPO, which is set to debut on the Nasdaq Composite on Friday.
June 9 (Reuters) - Wall Street's main indexes rose at the open on Tuesday, as chipmakers extended gains for a second day, while easing hostilities in the Middle East also aided sentiment.
The Nasdaq’s rebound continued on Tuesday after Wall Street sniffed another run for momentum stocks. The tech-heavy index rose 0.7%. The S&P 500 rose 0.6%. The Dow rose 350 points, or 0.7%. Chips and other stocks with momentum in recent weeks continued to bounce back from Friday’s selloff.
FEATURE SailPoint shares were on pace for their worst day since March even after the software provider posted fiscal first-quarter adjusted earnings that beat analysts’ estimates. Total revenue came to $280 million, edging past Wall Street’s call for $275.
Wall Street looked set to see chipmakers continue their rebound on Tuesday, with investors continuing to pick through the wreckage of last week's tech sell-off ahead of key US inflation data. Futures pointed higher across the board, with contracts on the Nasdaq 100 up 0.9%, S&P 500...
US equity futures rose pre-bell Tuesday as oil prices receded on optimism that a US-Iran peace agree
U.S. stock futures rose Tuesday as chip stocks extended a recovery from last week's selloff, while crude oil fell on Trump's Iran deal comments
Wall Street futures pointed moderately higher pre-bell Tuesday as traders again leaned toward risk o
Uber and Netflix are spotlighted as non-AI tech stocks after the Nasdaq slide, with growth outlooks and analyst targets suggesting sizable upside.
Investors hope every stock they pick will go “to the moon”, but some companies take that more literally than others.