Traders at work at the New York Stock Exchange on June 9, 2026.
new york stock exchange
U.S. stocks fell on Wednesday after President Donald Trump suggested negotiations with Iran were going on “too long” and threatened further action.
of Dow Jones Industrial Average It fell 650 points (1.3%). of S&P500 and Nasdaq Composite They fell by 0.8% and 1.1%, respectively.
Major stock averages fell to their lowest levels in trading after President Trump promised more attacks on Iran, saying, “We’re going to hit Iran very hard.” He wrote early Wednesday that Iran “took too long to negotiate a deal that was supposed to be great for them. Now they will have to pay the price!!!”
Oil prices rose in response to President Trump’s threats. West Texas Intermediate Crude Oil Futures It rose 2.8% to over $90 per barrel.
Tensions in the Middle East rose again Tuesday night after the U.S. military launched an offensive against Iran “following the downing of a U.S. Apache helicopter (on Monday),” U.S. Central Command said in a statement. President Trump had earlier accused Iran of shooting down a helicopter patrolling the Strait of Hormuz.
“The Iran war story is really important,” said Jed Ellerbrook, portfolio manager at Argent Capital Management. “Both investors will be proven right. There’s nothing to worry about, President Trump will take care of it, we’ll get a deal with Iran, the Straits will be open. But if not, it feels like oil prices are going to have to go up significantly.”
“It’s impossible to be comfortable in this investment environment,” he added.
Semiconductor stocks came under pressure again on Wednesday, also hurting stock prices. shares of micron technology, advanced micro device and broadcom Chip stocks plummeted over the weekend, ultimately falling 10%. iShares Semiconductor ETF on friday. The group then rebounded slightly on Monday and selling resumed on Tuesday.
Stocks are under pressure ahead of SpaceX’s IPO on Friday, and some traders believe investors, especially small retail investors, are dumping some of the winning stocks in hot stocks to make room in their portfolios for the biggest IPO in history. Others believe the weakness after such a surge is simply profit taking. Chip ETFs are up more than 80% this year.
Stocks broke out of the lows after May’s core consumer price index, which excludes food and energy prices, was slightly weaker than expected. According to the Bureau of Labor Statistics, core CPI for the month was 0.2%, below expectations of 0.3%. Core CPI compared to a year ago was 2.9%, in line with expectations but above the Federal Reserve’s inflation target of 2%.
The overall annual inflation rate, which includes all prices, exceeded 4% for the first time in three years.
Semiconductor stocks dragged down the S&P 500 and Nasdaq on Tuesday, while blue chips Dow Jones Industrial Average Finished in green. Tuesday’s selloff was an extension of last week’s pullback, which came after weeks of frenzied buying fueled by enthusiasm for all things related to artificial intelligence.
—CNBC’s Jeff Cox and Kevin Breuninger contributed reporting.
