The S&P 500 (^GSPC 0.57%) fell 0.57% to 7,511.35, and the Nasdaq Composite (^IXIC 1.15%) dropped 1.15% to 26,376.34 on tech and chip weakness. The Dow Jones Industrial Average (^DJI +0.64%) rose 0.64% to 51,999.67, closing a four-day winning streak at a fresh record high.
Artificial intelligence (AI) infrastructure player CoreWeave jumped almost 10% today on bullish analyst sentiment. However, many popular tech and chip stocks, such as Nvidia, Broadcom, Micron Technology, and Advanced Micro Devices, fell — potentially due to profit-taking — as the recent rebound lost steam. Robinhood Markets slid after announcing layoffs, while optimism about a potential FDA approval for its flu vaccine boosted Moderna.
Tech stocks lagged today as investors favored the industrial, transportation, and financial sectors on the back of cooling oil prices. The rotation did not stop Space Exploration Technologies Corp. from continuing its post-IPO surge, though the record-breaking stock did pare some of its gains in afternoon trading.
There’s wary optimism about an end to the U.S.-Iran conflict, but with no concrete details of the deal, caution won out. The Federal Reserve began its first meeting under new Chair Kevin Warsh. Warsh will almost certainly leave rates unchanged in tomorrow’s post-meeting announcement, but investors will be watching for signs of a new Fed direction.
Today’s mixed trading is a reminder of the importance of regularly re-evaluating your holdings. It can be hard to know when to take profits, but when prices are near record highs, it may be time to rebalance your portfolio.
Emma Newbery has positions in Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Broadcom, Micron Technology, Moderna, and Nvidia. The Motley Fool has a disclosure policy.
*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.
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Retail investors reassess growth favorites as Robinhood’s job cuts ripple through a market tilting toward industrial and financial stocks, today, June 16, 2026.
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