BUSINESS

New York tech stocks slide as global sell-off deepens

PUBLISHED Jun 23, 2026, 1:02 PM ET

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New York’s Nasdaq Composite fell more than 2% at the opening bell on Tuesday, June 23, 2026, as a global sell-off in major technology stocks accelerated. By midday, the index was down 409 points, or 1.6%, at 25,758, while the S&P 500 lost 1%, reversing part of the record gains built on artificial intelligence optimism. Investors shifted focus from broad AI narratives to evidence of concrete profit growth. Overseas markets were hit harder: South Korea’s KOSPI dropped 9.99%, triggering a 20‑minute trading halt, with Samsung Electronics and SK Hynix sliding over 12%. Japan’s Nikkei 225 fell nearly 4%, and Hong Kong’s Hang Seng declined almost 2%.

By Emily Rhodes | JQJO News

Timeline of Events

Past several months, AI optimism drives record Wall Street highs
Monday, June 22, 2026, tech rout begins on Wall Street
Early Tuesday, June 23, global tech selling intensifies sharply
Tuesday open, Nasdaq drops over 2 percent immediately
By midday Tuesday, Nasdaq and S&P extend losses
Tuesday close Korea, KOSPI plunges 9.99 percent
Afternoon Tuesday, Korea Exchange triggers sidecar halt
End of Tuesday session, Nikkei and Hang Seng decline

News Intelligence

The tech stock slide could impact your investments. If you have money in tech stocks or mutual funds, you might see a dip in your portfolio. It's a good time to review your investments and consider your risk tolerance.