The stock market posted a mostly lower performance on Tuesday as semiconductor stocks faded from Monday’s rebound and oil prices retreated on easing Middle East tensions, leaving investors questioning the staying power of the recent chip rally.
The S&P 500 gained 0.3% to finish at 7,405.73, while the tech-heavy Nasdaq Composite rose 0.9% or 220.23 points to 25,929.66, according to market data from Zacks Investment Research. The Dow Jones Industrial Average fell 0.2% to close at 50,786.01 after a choppy session, with 13 of its 30 components ending in positive territory and 17 in negative territory.
Monday’s semiconductor rebound proved short-lived as gains faded during Tuesday’s session. Major AI chip stocks including Broadcom, Advanced Micro Devices, Marvell Technology, and Micron Technology had surged on Monday—with Micron up 9.9%, Marvell up 9.6%, AMD up 5.1%, and Broadcom up 2.8%—as investors sought bargains after Friday’s brutal selloff. That earlier decline was triggered by a stronger-than-expected May jobs report that raised concerns the Federal Reserve would keep interest rates higher for longer, pressuring growth-focused tech companies.
Oil prices fell sharply on Tuesday as diplomatic developments eased supply disruption fears. Brent crude traded at $93.13 per barrel, down 1.19% from the previous close of $94.25, while West Texas Intermediate dropped 1.65% to $89.79, according to MarketForces Africa. The retreat followed announcements that Iran and Israel had halted attacks on each other, with President Trump signaling progress in negotiations and suggesting the Strait of Hormuz could reopen within days.
The market’s mixed performance reflects competing forces: lingering concerns about tech valuations and interest rate persistence weighed against relief from reduced geopolitical risk. Energy stocks fell 1.8% as a sector, while the Information Technology Select Sector SPDR dropped 6.7%, signaling that Tuesday’s session saw weakness reassert itself in the areas that had powered the market higher earlier in the year.
Sources
- The Globe and Mail / Zacks Investment Research — S&P 500, Nasdaq, and Dow Jones closing prices and performance on June 9, 2026; semiconductor stock movements on June 8; sector performance data
- MarketForces Africa — Oil price movements and Iran-Israel ceasefire announcements on June 9, 2026; Trump’s comments on negotiations
