This content was published on
June 26, 2026 - 10:43
4 minutes
(Bloomberg) — Technology stocks once again pulled global indexes lower as renewed selling in semiconductor manufacturers and a possible delay to OpenAI’s public debut hit sentiment. Oil resumed its slide.Nasdaq 100 futures fell 0.9%, outpacing a 0.3% retreat in S&P 500 contracts. A selloff in Samsung Electronics Co. and SK Hynix Inc. triggered a second trading suspension within days in Seoul. OpenAI backer SoftBank Group Corp. tumbled in Japan after the New York Times reported that ChatGPT’s owner could hold off on an initial public offering. Chipmakers led declines in US premarket trading.Equity markets are capping a volatile week in which shifting sentiment around the tech trade whipsawed stocks, with investors parsing everything from spending plans to corporate earnings. The swings have also prompted investors to seek out overlooked sectors that stand to benefit from easing inflation fears and prospects for more robust economic growth.“Technology remains a crowded trade, positioning is relatively tight, and that makes the sector more sensitive to negative news flow or sharp moves in individual names,” said Francisco Simon, European head of strategy at Santander Asset Management.A decline in oil prices failed to lift stocks, while bonds reacted positively. Brent crude fell 3.4% to trade below $73 a barrel as traffic continued to flow through the Strait of Hormuz, despite Thursday’s attack on a container vessel. Iran said the waterway would be managed according to its deal with the US.Treasury yields fell across the curve, with the 10-year rate down two basis points to 4.37%. Bonds rose across Europe as well as traders no longer fully priced in another quarter-point interest rate hike by the European Central Bank.Meanwhile, the dollar held on to gains that have set it on course for one of its best months in a year. Strategists at major banks have expressed renewed faith in the greenback after Federal Reserve Chairman Kevin Warsh vowed to restore price stability.Corporate Highlights:Volkswagen AG is looking to cut tens of thousands of additional jobs and may shutter factories in a push by Chief Executive Officer Oliver Blume to make Europe’s biggest automaker more competitive, Manager Magazin reported. SoftBank Group Corp.’s stock fell as much as 13% on concerns that OpenAI may hold off on an initial public offering until next year and delay returns for its Japanese backer. Microsoft Corp. announced a third substantial price increase for Xbox video-game consoles in an example of the component shortage crisis that has driven up the cost of consumer tech products. BHP Group’s incoming Chief Executive Officer Brandon Craig has announced changes to the company’s leadership team before he officially assumes the role on July 1. Samsung Electronics Co. and SK Hynix Inc. are preparing to announce hundreds of billions of dollars worth in new investments on Monday, according to South Korean media reports this week. Some of the main moves in markets:StocksThe Stoxx Europe 600 fell 0.6% as of 9:39 a.m. London time S&P 500 futures fell 0.3% Nasdaq 100 futures fell 0.9% Futures on the Dow Jones Industrial Average rose 0.2% The MSCI Asia Pacific Index fell 2.6% The MSCI Emerging Markets Index fell 2.9% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro rose 0.2% to $1.1398 The Japanese yen was little changed at 161.63 per dollar The offshore yuan was little changed at 6.8037 per dollar The British pound rose 0.1% to $1.3211 CryptocurrenciesBitcoin rose 1.3% to $60,141.35 Ether rose 0.5% to $1,566.62 BondsThe yield on 10-year Treasuries declined two basis points to 4.37% Germany’s 10-year yield declined two basis points to 2.84% Britain’s 10-year yield declined one basis point to 4.68% CommoditiesBrent crude fell 3.5% to $72.60 a barrel Spot gold rose 0.2% to $4,033.52 an ounce This story was produced with the assistance of Bloomberg Automation.–With assistance from Shikhar Balwani.©2026 Bloomberg L.P.
