The move is driven by macro/risk sentiment tied to Fed inflation concerns and sector-wide de-risking, with Nvidia explicitly called out as a leading decliner.
Nvidia, Micron, Intel lead tech sell-off as AI trade cools Ines Ferré · Senior Business Reporter Updated Tue, June 23, 2026 at 3:53 PM GMT+2 1 min read ^IXIC What happened: Nvidia ( NVDA ) and Micron Technology ( MU ) led a tech sector sell-off on Tuesday. What's behind the move: Investors shifted to risk-off mode, selling this year's market leaders after a hawkish Federal Reserve signaled last week that inflation remains too high. The overall Technology sector ( XLK ) led the declines, dragging the Nasdaq Composite ( ^IXIC ) lower and extending its losses for a second consecutive session.
AI chip heavyweight Nvidia stock slipped 3%, while Alphabet ( GOOGL , GOOG ) also fell 1%, extending the weakness across Big Tech from the previous session . Memory chip highflier Micron, set to report earnings on Wednesday, tumbled more than 11% in a retreat from record highs. Pers SK Hynix ( 000660.
KS ) and Samsung Electronics ( 005930. KS ) in Asia also fell. What else you need to know: T he hottest sector in the AI trade cooled off as chip makers AMD ( AMD ), Broadcom ( AVGO ), and Intel ( INTC ) also declined.
Technology has been the best-performing sector year to date, sending the major averages to all-time highs in recent weeks amid a boom in AI infrastructure investments. Expectations that the Federal Reserve may have to raise rates, along with the massive SpaceX ( SPCX ) IPO and the expected public debuts of AI developers Anthropic ( ANTH. PVT ) and OpenAI ( OPAI.
PVT ), have raised concerns about the market's ability to absorb lofty valuations for AI companies. SpaceX stock was under pressure for a fourth day in a row on Tuesday after sinking 16% in the prior session . Ines Ferre is a senior business reporter for Yahoo Finance.
Follow her on X at @ines_ferre . Click here for the latest technology news that will impact the stock market Read the latest financial and business news from Yahoo Finance Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre .
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