This content was published on
June 26, 2026 - 12:21
5 minutes
(Bloomberg) — Technology stocks dragged global indexes lower following renewed selling in chipmakers, while a report that OpenAI could postpone plans to go public also weighed on sentiment.Nasdaq 100 futures slid 1.1%, while those on the S&P 500 contracts fell 0.5%. Semiconductor names, including Micron Technology Inc., and optical stocks were broadly lower in US premarket trading. A selloff in Samsung Electronics Co. and SK Hynix Inc. triggered a second trading suspension within days in Seoul. Oil resumed its slide, failing to lift stocks but offering a fillip to bonds.Markets are capping a volatile week in which shifting sentiment around the once-relentless tech trade whipsawed equities, with investors parsing everything from spending plans to corporate earnings. Friday’s bout of weakness came as price increases across products from Apple Inc. and Microsoft Corp. triggered fears about the staying power of chip demand.“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 New York Times report that ChatGPT owner OpenAI could delay its initial public offering until 2027 brought into focus the possible consequences of recent swings. OpenAI backer SoftBank Group Corp. tumbled in Japan following the news, sending the Nikkei 225 down 4.2%.The volatility has also prompted investors to seek out overlooked sectors that stand to benefit from the prospect of a more robust economy.The most sensible strategy “is to maintain well-diversified portfolios across geographies, styles, sizes, companies, and sectors,” said David Manso, chief investment officer at CaixaBank AM. “In a couple of weeks, the earnings season will kick off, and leading indicators are pointing in the right direction. We expect corporate results to become a positive catalyst.”Brent crude fell 3.6% 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, with the two-year rate down three basis point to 4.09%. Bonds edged higher across Europe as well as traders no longer fully priced in one more quarter-point interest-rate hike by the European Central Bank.Meanwhile, the dollar mostly 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 0.9% as of 11:18 a.m. London time S&P 500 futures fell 0.5% Nasdaq 100 futures fell 1.1% Futures on the Dow Jones Industrial Average fell 0.1% The MSCI Asia Pacific Index fell 2.6% The MSCI Emerging Markets Index fell 2.9% CurrenciesThe Bloomberg Dollar Spot Index fell 0.1% The euro rose 0.3% to $1.1406 The Japanese yen rose 0.1% to 161.60 per dollar The offshore yuan was little changed at 6.8012 per dollar The British pound rose 0.2% to $1.3222 CryptocurrenciesBitcoin rose 0.6% to $59,713.09 Ether fell 0.4% to $1,551.66 BondsThe yield on 10-year Treasuries declined one basis point to 4.38% Germany’s 10-year yield declined one basis point to 2.85% Britain’s 10-year yield was little changed at 4.70% CommoditiesBrent crude fell 3.7% to $72.50 a barrel Spot gold rose 0.6% to $4,049.42 an ounce This story was produced with the assistance of Bloomberg Automation.–With assistance from Henry Ren.©2026 Bloomberg L.P.
