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Informist, Wednesday, Jun. 10, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Tech stock sell-off resumes on Wall Street, NASDAQ down 1%

 

MUMBAI--0735 IST--The breather for technology stocks on Wall Street lasted only a day as selling resumed in the sector Tuesday. The NASDAQ Composite closed 1% lower, while the S&P 500 ended 0.3% lower. The Dow Jones Industrial Average, meanwhile, ended in the green. Shares of Advanced Micro Devices fell 3%, Micron Technology declined over 1%, and Qualcomm fell almost 6%. Marvell Technology, which advanced as much as 9.6% Monday, fell almost 8%. The CBOE Volatility Index, often referred to as the Wall Street fear gauge, hit its highest level since Apr. 7 on Tuesday, according to Reuters.

 

The Philadelphia Semiconductor Index fell nearly 2?ter closing almost 6% higher Monday. The S&P 500 Information Technology index was also down nearly 2%. On the other hand, retail stocks in the Dow Jones displayed positive momentum. Shares of Home Depot and paint maker Sherwin-Williams rose almost 4?ch. Johnson & Johnson, Procter & Gamble, and Coca-Cola also advanced around 2?ch. 

 

"If we're talking about the substance of what we've seen over the past few weeks, it's really been concentrated in that memory, semiconductor area that's lifted the market. It's been the real force behind everything, and really it's run so hard that it feels very toppy at this moment," Marta Norton, chief investment strategist for Empower Investments, told CNBC. 

 

In other news, Anthropic said it launched a new model, Claude Fable 5, for general use ahead of its initial public offering. The company said it will deploy the model through Project Glasswing, in collaboration with the US government, as an upgrade to Claude Mythos Preview. The model has the strongest cybersecurity capabilities, the company said. Project Glasswing is Anthropic's partnership with over 40 organisations which use its artificial intelligence to secure software.

 

The following were the closing levels of major US indices on Tuesday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	50872.11	0.17
NASDAQ Composite	25678.82	(-)0.97
S&P 500	7386.65	(-)0.26

 

(Ruchira Kagita)

 

US$1 = INR 95.35

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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