
June 26 selling spread from futures to the cash open as chip and AI-linked shares fell, the Nasdaq and S&P 500 headed for weekly losses, and volatility rose.
U.S. equities weakened on June 26 from premarket futures into early cash trading, with technology and semiconductor shares leading declines. Before the open, Nasdaq 100 futures fell more than 1%, while S&P 500 futures dropped 0.42% and Dow futures slipped 0.08%. In early trading, the Nasdaq fell about 1.1%-1.33%, the S&P 500 lost about 0.66%-0.83%, and the Dow was down about 0.36%-0.44%, leaving the S&P 500 and Nasdaq on track for weekly losses. Chip stocks sold off as Micron, AMD and Nvidia declined, the Philadelphia SE Semiconductor index dropped 4.7%, and Onsemi fell about 19% after agreeing to buy Synaptics in an all-stock deal valued at about $7 billion. The VIX rose 8.91%, while investors also weighed inflation concerns, Apple's price increases tied to chip costs, and a report that OpenAI was considering delaying an IPO until next year.