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Stock Markets June 23, 2026 04:30 PM

U.S. equity indexes end lower as technology, materials and industrials weigh on markets

S&P 500 and Nasdaq post notable declines while select Dow stocks outperform; commodities and volatility tick higher

By Derek Hwang
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CAT MRK NVDA

U.S. stocks closed lower on Tuesday as losses across the Technology, Basic Materials and Industrials sectors pushed major indexes down. The Dow Jones Industrial Average finished marginally lower, while the S&P 500 and Nasdaq Composite recorded larger declines. A handful of Dow components and select S&P 500 names outperformed, even as several large-cap technology and semiconductor stocks fell sharply. Market breadth was mixed across both the NYSE and Nasdaq, and the CBOE Volatility Index rose. Commodities and currency moves accompanied equity weakness.

U.S. equity indexes end lower as technology, materials and industrials weigh on markets
CAT MRK NVDA
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Key Points

  • Major U.S. indexes ended the session lower: Dow -0.09%, S&P 500 -1.44%, Nasdaq -2.22%, driven by Technology, Basic Materials and Industrials.
  • Notable winners included IBM (+5.04%), Merck (+3.54%), Johnson & Johnson (+3.36%), Axon (+5.61%), CDW (+5.26%) and GE HealthCare (+5.06%).
  • Significant decliners included Micron (-13.16%), ON Semiconductor (-11.01%), Enphase (-9.90%), NVIDIA (-4.15%) and Caterpillar (-3.73%). Sectors affected include technology, industrials, and materials.

U.S. equity markets ended the session in negative territory on Tuesday, with the S&P 500 and Nasdaq Composite showing the largest falls as Technology, Basic Materials and Industrials stocks led declines.

At the close on the NYSE, the Dow Jones Industrial Average slipped 0.09%. The S&P 500 fell 1.44% and the NASDAQ Composite lost 2.22%.

Top and bottom movers on the Dow

Among the blue-chip names, International Business Machines (NYSE:IBM) was the strongest performer, rising 5.04% or 12.72 points to end at 264.94. Merck & Company Inc (NYSE:MRK) gained 3.54% or 4.09 points to finish at 119.57, while Johnson & Johnson (NYSE:JNJ) added 3.36% or 7.78 points to close at 239.07.

On the downside, NVIDIA Corporation (NASDAQ:NVDA) led losses in the session on the Dow list, dropping 4.15% or 8.65 points to close at 200.00. Caterpillar Inc (NYSE:CAT) fell 3.73% or 38.08 points to 984.20, and Honeywell International Inc (NASDAQ:HON) declined 2.50% or 5.71 points to 222.40.

S&P 500 movers

Within the broader S&P 500 index, Axon Enterprise Inc (NASDAQ:AXON) led gains, rising 5.61% to 433.04. CDW Corp (NASDAQ:CDW) climbed 5.26% to settle at 130.07, and GE HealthCare Technologies Inc (NASDAQ:GEHC) gained 5.06% to close at 63.71.

Among the session's weakest S&P names were Micron Technology Inc (NASDAQ:MU), which fell 13.16% to 1,051.97 in late trade, ON Semiconductor Corporation (NASDAQ:ON) which lost 11.01% to end at 117.06, and Enphase Energy Inc (NASDAQ:ENPH) which slipped 9.90% to 47.22 at the close.

Nasdaq extremes

The Nasdaq Composite's top performers included Atlantic International Corp (NASDAQ:ATLN), which surged 202.41% to 1.33, Aditx Therapeutics Inc (NASDAQ:ADTX) which rose 117.19% to 0.04, and Focus Universal Inc (NASDAQ:FCUV) which gained 89.23% to close at 4.11.

Conversely, Nexentis Technologies Inc (NASDAQ:NXTS) fell 55.31% to 5.81 in late trade, Triller Group Inc (NASDAQ:ILLR) dropped 50.49% to 0.73, and INLIF Ltd (NASDAQ:INLF) declined 49.28% to 0.06 at the close. Shares in INLIF Ltd (NASDAQ:INLF) fell to all time lows; losing 49.28% or 0.05 to 0.06.

Market breadth and volatility

On the New York Stock Exchange, advancing issues narrowly outnumbered decliners by 1,387 to 1,369, with 68 stocks unchanged. On the Nasdaq Stock Exchange, 1,698 issues rose while 1,673 fell and 200 ended unchanged. The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 12.73% to 19.48.

Commodities and currencies

Gold Futures for August delivery was down 1.77% or 74.44 to $4,128.26 a troy ounce. In energy markets, Crude oil for delivery in August fell 0.72% or 0.53 to $73.33 a barrel, while the September Brent oil contract declined 0.88% or 0.68 to trade at $76.84 a barrel.

In currencies, EUR/USD was essentially unchanged at 1.14 with a 0.42% move reported, while USD/JPY rose 0.02% to 161.58. The US Dollar Index Futures was up 0.36% at 101.16.

The session closed with a mix of notable winners and sharp losers, leaving major U.S. indexes lower and volatility elevated. Market participants watched moves across commodities and currencies as well as stock-specific swings among technology, industrial and materials-related names.

Risks

  • Elevated equity market volatility as indicated by the CBOE Volatility Index rising 12.73% to 19.48 could increase short-term trading risk for equities, particularly in technology and materials stocks.
  • Sharp declines in several semiconductor and clean-energy names such as Micron (-13.16%), ON Semiconductor (-11.01%) and Enphase (-9.90%) suggest concentrated downside risk within Technology and related sectors.
  • Large single-session moves in small-cap and micro-cap Nasdaq names (for example ATLN +202.41%, NXTS -55.31%, ILLR -50.49%, INLF -49.28%) highlight liquidity and idiosyncratic risk for investors in those stocks.

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