Stock Market Today, June 26: Sandisk Tumbles and Tech Weakness Weighs on Markets

The S&P 500 (SNPINDEX:^GSPC) fell 0.05% to 7,354.02, the Nasdaq Composite (NASDAQINDEX:^IXIC) declined 0.24% to 25,297.62, and the Dow Jones Industrial Average (DJINDICES:^DJI) slipped 0.09% to 51,876.11, as technology weakness intensified.

Gold prices rose 0.96% to $4,086.40 as of U.S. market close, while the 10-Year Treasury yield fell 0.02% to 4.38%. Consumer cyclicals gained 1.52%, while industrials dropped 1.34% and energy stocks slipped 0.57%.

Sandisk shares plunged over 10% and Micron Technology fell 7% as a sell-off in memory and chipmakers weighed on the broader technology sector. Meanwhile, Broadcom and Seagate Technology also finished lower as investors questioned valuations amid shifting sentiment and rising volatility.

Semiconductors erased some of this week's gains today after soaring on Micron's blowout earnings. The tech-heavy Nasdaq finished the week down 5% as the artificial intelligence (AI) trade came under increasing pressure. Yesterday's sticky inflation data weighed on risk sentiment, driving a rotation into defensive stocks.

For investors, the swings of recent weeks reflect conflicting forces of optimism and anxiety about AI valuations. For example, bill

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/stock-market-today-june-26-212357898.html)