Selling pressure intensified globally on technology stocks, particularly AI and semiconductor stocks.
On June 23, 2026, local time, U.S. semiconductor stocks began to decline from their all-time highs, with the Semiconductor Index (SOX), which had been leading the record-breaking rally, plummeting 7.9%. Major companies such as Micron, SanDisk, and Seagate all saw declines.
Stock market news for June 23, 2026
Tech rout intensifies as sell-off grips global stocks
https://www.cnbc.com/2026/06/23/tech-stocks-sell-off-mag7-samsung-sk-hynix.html
Chip stocks plunge, but bargain-hunters limit scale of tech rout | Reuters
https://www.reuters.com/business/media-telecom/nasdaq-100-set-shed-over-1-trillion-tech-selloff-deepens-spacex-slides-2026-06-23/
Global tech sell-off intensifies, led by AI and chip stocks
https://www.nbcnews.com/business/business-news/tech-sell-off-markets-spacex-alphabet-nasdaq100-stocks-rcna351331
On the 23rd, shares of Micron and SanDisk, semiconductor companies that spearheaded the AI boom, fell 13%. AMD, also a semiconductor company, fell 6%, Qualcomm fell 8%, and NVIDIA, the world's most valuable company, fell 4.1%, dropping its market capitalization below $5 trillion (approximately 800 trillion yen). As a result, the Nasdaq Composite Index (IXIC), which has a high proportion of technology stocks, fell 2.2%.
The sharp decline in semiconductor stocks is being seen outside the United States as well. In South Korea, shares of SK Hynix and Samsung each fell 12%, and the Korea Composite Stock Price Index (KOSPI) plummeted 9.99%, its biggest drop in more than three months. Trading was automatically halted for 20 minutes across all stock exchanges that afternoon. Reuters speculates that the decline was due to foreign investors selling off semiconductor manufacturer shares after regulators indicated signs of overheating in the semiconductor sector.
Stock prices also plummeted in Europe, with the STOXX Europe 600 Technology Index falling 3%. Semiconductor manufacturer STMicroelectronics and semiconductor manufacturing equipment manufacturer ASMI both fell more than 7%, making them among the biggest losers in the STOXX 600 Index.
In addition, Apple and Seagate also saw their stock prices fall, but some high-tech companies not directly related to semiconductor manufacturing, such as Amazon and Microsoft, rose, as did so-called defensive stocks in sectors less affected by economic fluctuations, such as Walmart, Procter & Gamble, and Johnson & Johnson.
Despite increased selling pressure on semiconductor stocks in markets around the world, some experts remain optimistic. Tom Hulick, CEO of asset management firm Strategy Asset Managers, told CNBC, 'The market is very liquid right now. There are no signs of a catastrophic collapse at all, there is plenty of liquidity, and corporate earnings growth is very strong.'
In fact, Micron shares have risen by more than 260% since the beginning of 2026, and by more than 760% in the past 12 months. Samsung has also risen 412% in the past 12 months, and SK Hynix has risen by more than 800%, leading to the prevailing view that this is merely a slight fluctuation in stocks that have continued to rise. An analyst at JPMorgan suggested that the recent sell-off 'may reflect anxiety ahead of Micron's upcoming earnings announcement,' while Dan Ives, head of technology research at Wedbush Securities, commented that 'this is just one of many critical junctures in the AI revolution that the technology industry experiences.'
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