financetom
Market
financetom
/
Market
/
US STOCKS-S&P 500, Nasdaq fall as tech selling resumes, Trump vows to respond to downed US helicopter
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US STOCKS-S&P 500, Nasdaq fall as tech selling resumes, Trump vows to respond to downed US helicopter
Jun 9, 2026 2:48 PM

(Adds analyst comment, market details after close of trading)

* Chips resume selloff after short-lived bounce on Monday

* Consumer price data, SpaceX market debut on watch this

week

* Trump writes on social media that Iran shot down a US

Apache helicopter

* Indexes: Dow up 0.2%; S&P 500 down 0.3%; Nasdaq down 1%

By Caroline Valetkevitch and Twesha Dikshit

June 9 (Reuters) - The S&P 500 and Nasdaq indexes fell on

Tuesday as a rebound in technology shares faded and as President

Donald Trump said the U.S. must react to Iran's shooting down of

a U.S. helicopter.

Trump wrote in a social media post that Iran had shot down the

U.S. Apache helicopter that was patrolling the Strait of Hormuz

overnight, and vowed to respond, which added to doubts about

prospects for a truce in the Middle East war.

The Cboe Volatility Index hit its highest level since

April 7 during the session as stocks sold off.

Technology stocks resumed Friday's selloff following a

bounce on Monday. The S&P 500 tech index fell more

than 4% before paring losses. The Philadelphia SE Semiconductor

Index dropped as much as 8.6% after rising 3% in early

trading. The tech index ended down 1.8% and the semiconductor

index was 1.9% lower on the day.

"When the bounce ran its course this morning, the tape came

for sale more broadly. There's also a rotation going on ... so

part of it is more of a momentum unwind," said Michael O'Rourke,

chief market strategist at JonesTrading in Stamford,

Connecticut.

Trump's post also briefly "created another leg down,"

O'Rourke said.

Iran and Israel on Monday said they would stop attacking

each other, boosting hopes that war tensions were easing.

The blue-chip Dow ended higher, while the Russell 1000 value

index gained 0.4%, outperforming the Russell 1000 growth

index, which fell 0.7%.

Investors may also be worried ahead of inflation data and a

highly anticipated SpaceX IPO later this week.

The Dow Jones Industrial Average rose 86.10 points,

or 0.17%, to 50,872.11, the S&P 500 lost 19.08 points, or

0.26%, to 7,386.65 and the Nasdaq Composite lost 250.84

points, or 0.97%, to 25,678.82.

Consumer price data for May could offer fresh clues on how the

rise in energy prices, driven by the Iran war, is impacting

inflation. The data is due on Wednesday.

A stronger-than-expected jobs report on Friday increased

bets that the Federal Reserve will hike interest rates this

year.

SpaceX's market debut on Friday could also be a hurdle for U.S.

stocks as investors worry about possible overexuberance among

high-growth technology stocks. Elon Musk's SpaceX is aiming to

raise $75 billion and targeting a valuation of $1.75 trillion,

the most ever for an IPO.

"This IPO is massive," said Jed Ellerbroek, portfolio

manager at Argent Capital Management. "Every investment

management firm in the country is talking about and considering

SpaceX. Even if they've decided not to buy it, they're reading

the news, they're seeing the new contract announcements ... Elon

Musk talk is everywhere. You can't avoid it."

"We all know Friday's trading day is going to be crazy.

There's going to be big volatility," he added.

Technology and AI-linked stocks sold off sharply on Friday

after Broadcom's ( AVGO ) disappointing forecast fueled concerns

about high valuations in the sector, particularly in chipmakers,

which have rallied sharply this year. The semiconductor index

remains up 78.7% for the year so far.

Shares of Broadcom ( AVGO ) were down 1.1% on Tuesday, while Nvidia ( NVDA )

was down just 0.2%.

Shares of Ciena fell 5.9% after the company announced

pricing on a convertible debt offering.

Advancing issues outnumbered decliners by a 1.33-to-1 ratio

on the New York Stock Exchange. There were 208 new highs and 190

new lows on the NYSE.

On the Nasdaq, 2,494 stocks rose and 2,378 fell as advancing

issues outnumbered decliners by a 1.05-to-1 ratio. The S&P 500

posted 31 new 52-week highs and 8 new lows while the Nasdaq

Composite recorded 151 new highs and 181 new lows.

Volume on U.S. exchanges was 24.77 billion shares, compared

with the roughly 20 billion average for the full session over

the last 20 trading days.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved