Traders work on the floor of the New York Stock Exchange during morning trading on June 26, 2026 in New York City.
Michael M. Santiago | Getty Images
The Dow Jones Industrial Average pulled back from record levels on Tuesday as investors once again appeared to rotate out of names tied to artificial intelligence and as oil prices advanced
The 30-stock index traded down 195 points, or 0.4%, after earlier hitting a new all-time intraday high. The S&P 500 and Nasdaq Composite fell 0.4% and 0.8%, respectively
Shares of Micron were last seen 5% lower, with KLA, Marvell Technology, Broadcom and AMD also posting declines. The VanEck Semiconductor ETF (SMH) fell more than 3%
“Expectations are up, and fundamentals are struggling to meet these high sky-high demands, and that’s what’s fueling today’s decline,” said Mike Bailey, director of research at FBB Capital Partners. “I would expect the rotations that we’ve seen to continue.”
Investors moved into key names in other areas of the market such as healthcare, financials and Big Tech. Shares of Eli Lilly gained 2%, while JPMorgan Chase and Microsoft also saw gains. Walmart shares added almost 1% on the heels of the company announcing price cuts on products such as ground beef and Coca-Cola
Adding to the downbeat sentiment, oil prices rose after Iran attacked a Qatari liquefied natural gas tanker near the Strait of Hormuz. International benchmark Brent crude futures were more than 2% higher, trading above $74 per barrel. U.S. West Texas Intermediate futures gained more than 2% to above $70
The downward pressure in the AI trade began in Asia-Pacific markets, after South Korea’sKospi dropped nearly 5% following a nearly 7% drop in memory chipmaker Samsung Electronics. The company reported a big jump in second-quarter profit, though concerns about spending and demand overshadowed the increase. In Europe, the Stoxx 600 index shed 0.5%
“The reaction to Samsung speaks to one of the biggest risks facing markets over the coming weeks: Q2 earnings results are likely to be quite robust on an absolute basis … but unlike with the Q1 season, expectations are presently very bullish (and the SPX is ~1K points higher than it was heading into the Q1 releases), which means the bar is quite elevated,” wrote Adam Crisafulli of Vital Knowledge
Also weighing on sentiment, Reuters reported, citinguld cut the company’s dependency on semiconductors from companies such as Nvidia and Samsung
Meanwhile, SpaceX shed 4% amid its Tuesday entrance into the Nasdaq-100. The declines also come despite a slew of bullish analyst calls from analysts. Many Wall Street shops initiated coverage of the stock with positive ratings and price targets, including Morgan Stanley and Raymond James
Bailey noted that the stock’s fall is an “indicator of kind of a modest risk-off move,” seeing that the company is “attempting to be an AI player.”
42 Min Ago
European stock markets close Tuesday’s session in the red
General view of the City of London skyline, the capital’s financial district.
Sopa Images | Lightrocket | Getty Images
The Stoxx 600 finished Tuesday’s session in negative territory, with the pan-European benchmark closing 0.53% lower
Regional sectors were mixed. Technology stocks lost 3.52% on the day, as industrial goods companies fell 2.37%. Basic rens, rising 1.63%, as healthcare stocks notched a 1.3% advance
A majority of the continent’s major bourses were in the red at the closing bell. The German DAX closed 1.27% lower in Frankfurt, while in Milan the Italian FTSE MIB ended the day down 0.95%. In Paris, the French CAC 40 was 0.51% lower at the market close
However, the U.K.’s FTSE 100 finished higher in London, up 0.13%
2 Hours Ago
Oil prices rise
Oil prices rose Tuesday after Iran attacked a tanker from Qatar near the strategically vital Strait of Hormuz
The attack near the waterway, which typically handles around 20% of the world’s oil traffic, reaffirm the fragility of the U.S. and Iran’s interim peace agreement, as they negotiate a permanent end to their war
Brent crude futures, the international benchmark, were last seen trading 2.4% higher at $73.75 per barrel. U.S. West Texas Intermediate futures advanced 2.3% to $70.13. Read more
— Sam Meredith and Spencer Kimball
2 Hours Ago
JPMorgan raises price target for Apple to $345, says price hikes won’t hurt as much as feared
Apple CEO Tim Cook delivers his last keynote address during the Apple WWDC at Apple Park on June 08, 2026 in Cupertino, California.
Justin Sullivan | Getty Images
JPMorgan reiterated an Overweight rating for Apple, raising its price target to $345 from $325 to account for price elasticity of demand
“We believe there are several drivers to lead the revenue and earnings outcomes to be much more favorable than currently feared by investors,” the bank’s analyst Samik Chatterjee wrote in a note
Following theannouncement of a 20% price hike on iPads and Macs, price elasticity of demand has been the biggest watchpoint for the company across its key hardware product lines
Still, Chatterjee said, Apple’s earnings should hold up because historical data shows that demand for Macs and premium iPhones is less sensitive to price increases
JPMorgan left its fiscal 2027 EPS estimate largely unchanged at $9.85.
— Deena Zaidi
3 Hours Ago
Rivian falls 13% after open
Shares of Riesday
The move comes after the company announced it’s selling 75 million shares of its Class A common stock
RIVN, 1-day
— Sean Conlon and Michael Wayland
3 Hours Ago
Dow rises to new record
The Dow Jones Industrial Average hit a new all-time high on Tuesday morning
The blue-chip index added 187 points, or 0.3%, shortly after the opening bell. The S&P 500 declined 0.1%, while the Nasdaq Composite lost 0.5%
— Sean Conlon
3 Hours Ago
Amazon plans to raise $25 billion in bond sale
Amazon is looking to raise $25 billion in a bond sale,ed 0.8% in the premarket
Bloomberg News first reported the news
Amazon, 1-day
— Sarah Min
3 Hours Ago
Trade deficit spiked in May but was slightly below forecast
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The U.S. trade deficit accelerated sharply in May but was slightly lower than expected, the Commerce Department reported Tuesday
The shortfall in goods and services totaled $77.6 billion for the month, up from a revised $54.6 billion in April as exports dropped 3.2% and imports rose 3.3%. Economists surveyed by Dow Jones had been looking for $78.08 billion
— Jeff Cox
4 Hours Ago
Rivian shares drop as company sells 75 million shares
The Rivian logo is displayed on a Rivian electric vehicle on April 30, 2026 in Venice, California.
Justin Sullivan | Getty Images
Rit trading on Tuesday after the electric vehicle maker announced a public offering of 75 million shares of its Class A common stock
The capital raise occurred during extended hours trading. Ri Read more
RIVN, 1-day
— Michael Wayland
4 Hours Ago
DeepSeek is developing its own AI chip, Reuters reports
DeepSeek reportedly has not shared its upcoming AI model with American engineers and instead granted early access to Chinese companies, further intensifying the technological war between the U.S. and China, as of Feb. 26, 2026.
Nurphoto | Nurphoto | Getty Images
DeepSeek is developing its own artificial intelligence chip, Reuters reported Tuesday, citing three people familiar with the matter
According to thened model produces responses — as opposed to training new models
The at an early stage. One of the
— Sean Conlon
4 Hours Ago
Fiserv, Vertex Pharmaceuticals, Crinetics Pharmaceuticals and First Solar among the stocks making premarket moves
Check out the companies making headlines before the bell:
- Fiserv — The fintech stock rallied more than 5% after The Wall Street Journal reported, citing sources, that Fiserv has talked with major U.S. banks — including JPMorgan and Bank of America — to sell its payments infrastructure business that handles debit card transactions.
- Vertex Pharmaceuticals, Crinetics Pharmaceuticals — Vertex will buy Crinetics in a $10 billion deal to acquire treatments for rare hormonal diseases, the two companies say Monday. Vertex shares dipped nearly 1%. Crinetics shares roughly doubled.
- First Solar — The solar module manufacturer rose nearly 3% after Deutsche Bank upgraded the stock to buy from neutral. The bank cited three reasons why investors should buy the dip on shares, including a potential trade policy shift.
Read the full list here
— Sarah Min
5 Hours Ago
JPMorgan hikes Eli Lilly target ahead of earnings
The New York Stock Exchange welcomes Eli Lilly and Company (NYSE: LLY) to the podium, Monday, May 11, 2028, in celebration of its 150th anniversary of founding.
NYSE
JPMorgan is expecting another strong quarter for Eli Lilly when the pharma giant reports in August. The firm raised its price target to $1,400 from $1,300, suggesting 17% upside from Monday’s close
“[W]e see strong results based on the continued ramp of Mounjaro internationally and healthy growth in the US obesity market. For the qtr, we estimate total sales of $20.7bn (~$300mm above cons) and EPS of $8.85 (+$0.13),” analyst Chris Schott said in a note Tuesday
Eli Lilly, which makes the blockbuster obesity drug Zepbound, remains Schott’s top pick. The stock has gained 12% so far this year
— Michelle Fox
7 Hours Ago
Crinetics surges nearly 99% in premarket trading after $10 billion Vertex takeover plans
Biopharmaceutical company Crinetics saw its stock almost double in value in premarket trading Tuesday after biotech firm Vertex announced a $10 billion acquisition plan
Vertex agreed to buy Crinetics for $85 per share, or roughly $8.8 billion in cash, with the transaction expected to be completed by the third quarter this year. Crinetics last rose nearly 99% in premarket trading, while Vertex shares dipped 0.2%
Crinetics develops medicines for hormone-related disorders, including endocrine diseases. Vertex focuses on the discovery, development, and commercialization of medicines for serious diseases
watch now
— Sawdah Bhaimiya
7 Hours Ago
Treasury yields move higher
U.S. Treasury yields moved higher on Tuesday morning as investors awaited data on the U.S. trade deficit, FOMC meeting minutes and the start of the NATO Summit in Turkey
At 5:35 a.m. ET, the benchmark 10-year Treasury yield rose over 2 basis points to 4.501%, and the 30-year Treasury bond added 1 basis point to yield 5.01%. The 2-year Treasury note was up over 1 basis point to 4.141%
— Sawdah Bhaimiya
7 Hours Ago
U.S. chip stocks fall in pre-market
The sell-off in semiconductor stocks has reached Wall Street, with U.S. chip stocks falling in pre-market trading
Shares of Micron were last seen 5% lower, with KLA, Lam Research, Marvell Technology and Applied Materials all shedding more than 4%. Nvidia, Broadcom, AMD and Qualcomm were also among those in the sector whose shares moved lower ahead of Tuesday’s regular session
— Chloe Taylor
8 Hours Ago
South Korea leads losses as Asia markets end lower
Asia-Pacific markets closed lower Tuesday, with South Korea’s Kospi leading declines
The Kospi closed 4.91% lower at 7,656.31. The Korea Exchange had earlier activated circuit breaker, pausing trading for 20 minutes, with the index falling more than 8% earlier in the day
Japan’s Nikkei 225 dropped 2.12% to 68,256.96, while the Topix declined 0.97% to 4,062.26. Australia’s benchmark S&P/ASX 200 fell 0.31% to 8,803.90
Hong Kong Hang Seng Index declined 0.51% to 23,496.89 and mainland China’s CSI 300 fell 1.03% to 4,792.26
— Justina Lee
8 Hours Ago
Saab stock jumps after NATO’s Rutte announces aircraft deal
NATO Secretary General Mark Rutte delivers remarks at the Defense Industry Forum, held as part of the 36th NATO Heads of State and Government Summit in Ankara, Turkiye, on July 07, 2026.
Berke Bayur | Anadolu | Getty Images
Saab stock jumped after NATO Secretary General Mark Rutte confirmed that the defense alliance would buy up to 10 reconnaissance aircraft from the Swedish plane maker.
“This will ensure we keep NATO’s owned and operated surveillance and early warning capability strong and credible for decades to come,” Rutte said about Saab’s GlobalEye system, which will replace the alliance’s older Boeing fleet
Saab said NATO will begin formal negotiations with Saab regarding the acquisition, but that it had not signed a contract or received an order related to the announcement. A deal value wasn’t communicated
Shares of Saab rose 5.2% in Stockholm by mid-morning trading
The announcement comes as world leaders meet in Ankara, Turkey, amid heavy pressure on governments to increase military budgets following last year’s landmark NATO agreement to spend 5% of GDP on defense and defense-related infrastructure by 2035
— Elsa Ohlen
9 Hours Ago
Chip sell-off extends to Europe
Employees assemble a ASML NXT1970Ci photolithography machine at the ASML Holding factory in Veldhoven, Netherlands.
Jasper Juinen | Bloomberg | Getty Images
Tech stocks sold off in Europe in early trading on Tuesday, with the semiconductor pullback seen in the Asian session rippling into European markets
At 8:20 a.m. in London (3:20 a.m. ET), Europe’s Stoxx 600 Tech index was 1.9% lower. French semiconductor materials maker Soitec’s stock was last seen around 10% lower, while Be Semiconductor fell by 5%. Shares of Infineon, STMicro, ASML and ASMI were all more than 4% lower
— Chloe Taylor
9 Hours Ago
European stocks mixed
European shares were mixed on Tuesday, with no broad consensus movement seen across the continent’s indexes
Twelve minutes into the trading session, the pan-European Stoxx 600 was marginally higher, with the index oscillating around the flatline in early dealmaking
London’s FTSE 100 and the French CAC 40 were higher, while Germany’s DAX fell shortly after the open
— Chloe Taylor
10 Hours Ago
Shell raises gas production guidance, but says output hampered by Iran war
Gas prices are displayed at a Shell gas station on June 22, 2026 in Los Angeles, California.
Justin Sullivan | Getty Images News | Getty Images
Shell hiked its integrated gas production guidance on Tuesday, but said output would still be markedly lower than it was in the first quarter due to the impact of the U.S.-Iran war
The oil giant is scheduled to release its finalized second-quarter earnings in full on July 30
Its outlook for second-quarter integrated gas production was raised to a range of 610,000 to 650,000 barrels of oil equivalent per day, from the guidance of 580,000 to 640,000 given to investors in May
However, the upgraded range still marks a notable decline from the 909,000 barrels produced in the first quarter of the year. Shell said on Tuesday that the downturn “reflects the impact of the Middle East conflict on Qatari volumes.”
— Chloe Taylor
11 Hours Ago
South Korean exchange triggers circuit breaker for Kospi index
The South Korean exchange triggered circuit breaker for its main index Kospi, with trading halted for about 20 minutes after the index plunged
Kospi fell more than 8%, while the small-cap Kosdaq lost over 3%. This is the sixth time that circuit breaker was activated this year, according to local media outlet Chosun
The Kospi was pressured by index heavyweight Samsung which fell over 9% even as the tech giant forecast a record profit for the second quarter. SK Hynix also fell 10%, further pressuring the index
— Justina Lee
11 Hours Ago
Asian tech stocks drop with South Korean chipmakers leading the slide
Asian technology stocks sold off Tuesday, amid broad declines across regional markets
South Korean tech stocks were one of the hardest hit. Kospi heavyweight Samsung fell 9% even as it forecast a record for the second quarter. Another index heavyweight SK Hynix dropped over 10%. Other tech-related names also came under pressure, with Samsung SDI down 3.88%, LG Display falling 3.40%
In Japan, tech investor SoftBank Group also declined more than 4%. Advantest fell 2.76%, while Tokyo Electron was down over 4%. Murata Manufacturing, which makes electronic components, fell 8.62%. Fanuc, manufacturer of industrial robotics, lost 5.44%.
In Taiwan, Apple supplier Hon Hai Precision Industry declined 2.27%, contract manufacturer Pegatron was down 2.60% and iPhone camera lens maker Largan Precision lost more than 6%. Chip giant Taiwan Semiconductor Manufacturing Co, or TSMC, fell 0.81%
— Justina Lee
12 Hours Ago
Kuaishou Technology shares fall nearly 10% after major shareholder Tencent reportedly cuts stake
Shares of Kuaishou Technology dropped 9.6% Tuesday, after its major shareholder Tencent sold $1.5 billion stake, according to a Bloomberg report
Tencent sold 273 million shares in the short-video company at 43.25 Hong Kong dollars, according to the report, a 6% discount to Kuaishou’s close on Monday
Tencent earlier this month backed a $2.8 billion financing round for Kuaishou’s Kling AI
— Justina Lee
13 Hours Ago
Japan’s Sapporo Breweries partners with Carlsberg to boost Southeast Asia, Hong Kong markets
Sapporo Breweries will form a joint venture with Carlsberg, as part of its efforts to strengthen its presence in the beer industry across Southeast Asia and Hong Kong
Sapporo and Carlsberg will increase the scope of their partnership to additional markets including Laos, Vietnam and Cambodia
The Japanese brewery will invest about $643 million to acquire a 25% equity stake, with the investment expected to generate returns of more than a 12%. Carlsberg will contribute its businesses in the relevant markets
“Through this alliance, Sapporo aims to expand sales volume of its “Sapporo Premium Beer” in the target markets to approximately 10 times the 2025 level by 2035,” the company said, adding that the region’s beer market is expected to increase at an annual rate of approximately 5%
Sapporo’s shares last traded 0.34% higher at 1,902 yen
— Justina Lee
13 Hours Ago
Oil rises amid worries over renewed tensions in the Strait of Hormuz
Oil tanker JORYA sails at the sea near the Omani coast, as seen from Musandam, Oman, June 25, 2026.
Stringer | Reuters
Oil rose Tuesday in early Asia trade amid concerns over renewed tensions in the Middle East after an oil tanker was hit near the Strait of Hormuz, with Axios reporting that Iran had resumed attacks in the strait
Futures for international crude benchmark Brent for September delivery gained 0.63% to $72.45 a barrel. U.S. West Texas Intermediate futures for August advanced 0.57% to $68.94 per barrel
British maritime security agency UKMTO on Tuesday said that an “unknown projectile”struck and caused a fire on an oil tanker off the coast of Oman near the Strait of Hormuz on Monday, raising concerns over ongoing efforts to secure a lasting peace agreement between the U.S. and Iran
“Vessels are advised to transit with caution,” the UKMTO said
— Justina Lee
14 Hours Ago
Hanwha Ocean’s shares drop 23% as it loses bid to build Canada’s next fleet of submarines
Shares of South Korea’s Hanwha Ocean plunged about 23% Tuesday, after the company lost its bid to build Canada’s next fleet of submarines
Canadian Prime Minister Mark Carney announced Monday that Germany’s Thyssenkrupp Marine Systems, or TKMS, would be the preferred supplier for the submarines.
That is expected to be a setback to Hanwha Ocean, as the contract was estimated to be up to $100 billion over three decades
— Justina Lee
14 Hours Ago
Samsung Electronics shares drop 7% despite record second-quarter profit forecast
A Samsung flag flies outside the company office in Seoul, South Korea on February 05, 2024.
Chung Sung-jun | Getty Images News | Getty Images
Samsung Electronics on Tuesday saw its shares slide 7% even as it forecast record second-quarter operating profit of 89.4 trillion won ($58.4 billion), topping analyst estimates
Operating profit from the same period a year earlier was 4.7 trillion won
The tech giant expects revenue for the April-to-June period to rise to 171 trillion won, up from 133.9 trillion won in the previous quarter
The results include deducted one-off expenses for employee bonus provisions following recent labor negotiations, according to analysts
Earlier this year, Samsung agreed to scrap its 1,000% base salary bonus cap and earmark 10.5% of its operating profit for bonuses, capitulating to a weeks-long labor union protest that demanded a fair share of the company’s earnings
— Jenny Lee
16 Hours Ago
South Korea’s Kospi leads declines as Asia-Pacific markets open lower
Asia-Pacific markets traded broadly lower early Tuesday, breaking ranks with Wall Street that saw the Dow hit a new high overnight
South Korea’s Kospi dropped 1.71% at open, while the small-cap Kosdaq declined 0.72%
Japan’s Nikkei 225 was marginally lower, though the Topix added 0.27%
Australia’s benchmark S&P/ASX 200 fell 0.12%
Futures for Hong Kong’s Hang Seng index last traded at 23,571, lower than the index’s close of 23,616.32
— Justina Lee
17 Hours Ago
Japan’s Nikkei 225 is set to rise at open after Wall Street rally
Asia-Pacific markets were set to open mixed Tuesday, after Wall Street rallied overnight with the Dow jumping 150 points for its first close above 53,000
Japan’s Nikkei 225 was poised to gain, with the Chicago futures contract at 70,350 and its Osaka counterpart last trading at 70,300, compared with the index’s previous close of 69,737.69
Hong Kong Hang Seng index futures were last at 23,571, lower than the index’s close of 23,616.32
Futures for Australia’s S&P/ASX 200 last traded at 8,813, while the index closed at 8,831
Tensions in the Middle East have eased, but friction between NATO members is now in focus as President Donald Trump piles on pressure over defense spending
The U.S. ambassador to the alliance told CNBC on Monday that “the target is that Europe takes over the conventional defense of the European continent.”
“We’re not going away, we’re just doing less,” Ambassador Matthew Whitaker said about U.S. involvement in European security and defense, ahead of this week’s NATO summit in Ankara, Turkey
— Justina Lee
18 Hours Ago
SpaceX slips ahead of Nasdaq-100 inclusion
Billboards in Times Square celebrate the SpaceX IPO debut at the Nasdaq on June 12th, 2026.
Adam Jeffery | CNBC
SpaceX shares slid around 1% in extended trading on Monday ahead of the stock’s entrance into the Nasdaq-100
The rocket company will join the concentrated index on Tuesday. It’s expected to catalyze a spate of passive buying from mutual and exchange-traded funds that track the index
CNBC Pro subscribers can click here to read more about what it means for investors
— Alex Harring
18 Hours Ago
Trump says Walmart will lower prices
An employee stocks ground beef into a display case at a Walmart Supercenter retail store in North Bergen, New Jersey, U.S., Nov. 21, 2025.
Mike Segar | Reuters
Walmart shares ticked lower after the bell on Monday after President Donald Trump claimed that the retailer would cut price tags
“I have just been informed that one of the biggest, best, and smartest Retailers in America, Walmart, will be lowering prices, by a lot, at my Administration’s request to celebrate our great Country’s 250th birthday,” Trump wrote on Truth Social in an afternoon post
Trump said that Walmart would specifically lower ground beef prices “by almost 15%.” Other products would also see price decreases, he said
“Walmart is stepping up in a big and bold way, and other Retailers should follow the lead of these absolute Patriots,” Trump wrote
Walmart shares slipped about 1% in Monday’s session, marking its seventh losing day of the last eight. Shares are slightly below flat on the year
— Alex Harring
18 Hours Ago
Vertex shares fall after news the company will buy Crinetics
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Shares of Vertex Pharmaceuticals dropped more than 2% following news that the company will be buying Crinetics
Vertex said it has entered an agreement to acquire Crinetics for $85 per share in cash, valuing the deal at about $10 billion
The acquisition is expected to close in the third quarter of 2026
Shares of Crinetics nearly doubled in extended trading
— Darla Mercado
18 Hours Ago
Stock futures are little changed
Futures tied to the Dow, S&P 500 and Nadaq-100 all traded near flat shortly after 6 p.m. ET
— Alex Harring
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