U.S. stock markets were mixed on Thursday as investors moved money out of major technology stocks and into other sectors like healthcare, finance, and industrial companies. The tech-heavy Nasdaq Composite fell 0.5%. The S&P 500 was nearly flat and showed little overall movement.
The Dow Jones Industrial Average rose 161 points, or 0.3%. The Dow even touched a new all-time intraday record of 52,655.66 during trading. Investors were buying non-AI and traditional companies while selling some big technology stocks.
Major indexes closing figures:
- Dow Jones Industrial Average (DJIA): 52,204.30 (+0.69%)
- S&P 500: 7,365.99 (+0.11%)
- NASDAQ Composite: 25,351.79 (-0.49%)
- Russell 2000: 3,021.97 (+1.18%)
Other big tech stocks also fall
- Alphabet, Google’s parent company, fell about 1%.
- Meta Platforms also dropped around 1%.
- Nvidia lost more than 2%.
- Amazon fell more than 2%.
Inflation Data
Investors closely watched new U.S. inflation data released Thursday. The Personal Consumption Expenditures (PCE) Price Index is the Federal Reserve’s preferred inflation measure. PCE inflation rose 0.4% in May from the previous month, according to government data. Economists had expected a 0.5% increase, according to Dow Jones estimates cited by CNBC.
On an annual basis, headline inflation rose 4.1%, matching expectations. Core PCE inflation, which excludes food and energy prices, increased 0.3% from the previous month. Core inflation rose 3.4% from a year earlier. Both core inflation figures matched economists’ forecasts.
Also read: Core PCE inflation hits 3.4%, highest since 2023; raises Fed rate cut doubts
Although core inflation reached its highest level since October 2023, investors were relieved that the numbers were not worse. Investors had feared inflation could rise further because of higher energy prices linked to Middle East tensions, according to CNBC.
Bond market reaction
U.S. Treasury yields moved slightly lower after the inflation report. The benchmark 10-year Treasury yield fell more than one basis point to 4.384%.
Gold Prices
Gold prices fell sharply on June 25, 2026, with investors seeing a significant drop in the precious metal’s value. The spot price of gold stood at $4,037.38 per ounce at 12:05 p.m. ET on June 25, according to the latest market data. Gold was down 1.73% on the day. The decline amounted to $71.09 per ounce compared with the previous closing price. Gold had closed at $4,108.47 per ounce in the previous trading session.
Bitcoin and Crypto market
The cryptocurrency market suffered a major shock as traders faced a wave of forced selling, according to market data. Around $450 million worth of leveraged long positions were liquidated in just 60 minutes
Bitcoin dropped to around $58,000 after the sell-off, The decline pushed Bitcoin to one of its weakest levels since late 2024. The sharp fall hurt investor and trader confidence across the cryptocurrency market.
Oil prices fell
Oil prices have fallen back to levels seen before the Iran conflict disrupted global energy markets, according to market data. The decline comes as shipping traffic through the Strait of Hormuz gradually returns to normal.
Global benchmark Brent crude oil briefly dropped below $72.48 per barrel. This was the same level oil traded at before the United States and Israel launched strikes on Iran. After falling below that level, Brent crude recovered slightly and traded around $73.23 per barrel.
Micron becomes the bright spot
Semiconductor company Micron Technology was one of the market’s biggest winners. Micron shares jumped 14% after reporting stronger-than-expected fiscal third-quarter earnings. The strong results helped limit broader market losses. Investors saw Micron’s results as a sign of continued strength in the chip industry.
Micron’s market value briefly rose above $1.4 trillion during trading. At one point, Micron temporarily became more valuable than Meta and Tesla. Later in the day, Micron’s valuation slipped back below both companies.
Other chip stocks rise
Qualcomm shares gained 6%. Qualcomm raised its long-term revenue outlook for non-smartphone businesses through fiscal 2029. Several other semiconductor-related companies also moved higher. These included Sandisk, Western Digital, KLA, and Applied Materials.
Dow gains
The Dow’s rise was mainly driven by non-technology companies. Healthcare, financial, and industrial stocks led the gains. Johnson & Johnson rose more than 1%, JPMorgan Chase gained more than 2%, Caterpillar surged 5%.
Five Dow stocks accounted for almost all of the index’s gains.
- Caterpillar contributed about 321 points
- Goldman Sachs contributed about 130 points.
- UnitedHealth contributed about 55 points.
- Sherwin-Williams contributed about 53 points.
- JPMorgan contributed about 53 points.
Bio-Techne agrees to Merck buyout
Bio-Techne shares surged 19%. The company agreed to be acquired by Merck in an all-cash deal. Merck will pay $73 per share for Bio-Techne. The transaction is valued at approximately $11.3 billion. Merck wants to strengthen its life sciences business through the acquisition. Merck shares also rose 4% after the announcement, stated by CNBC. The companies expect the deal to close by late 2026 or early 2027.
SpaceX stock under pressure
SpaceX shares fell about 1%, and had also fallen by a similar amount the previous day. SpaceX briefly dropped close to $150 before recovering slightly above $153.
Market opened strong but lost momentum
All three major U.S. indexes opened higher at the start of trading. Shortly after the opening bell, the Nasdaq was up 1%. The S&P 500 was up 0.8%. The Dow was higher by 316 points. However, gains faded as investors sold major technology stocks during the day.
The biggest story on Wall Street was a sharp sell-off in major technology stocks led by Apple and Microsoft.
Which sectors performed (June 25, 2026)
Sector performance today
- Industrials: +1.2% to +2.0%
- Health Care: +1.0% to +1.6%
- Basic Materials: +1.4% to +1.8%
- Energy: +0.3% to +1.0%
- Financials: Flat to slightly positive
- Technology & Hardware: Mixed.
- Consumer Discretionary: -0.9% to -1.2%
- Communication Services: -0.8% to -1.4% (via Bloomberg)
Apple and Microsoft drag tech stocks lower
Apple shares fell 5%, making it one of the biggest reasons for the Nasdaq’s decline. Apple announced price increases for MacBook and iPad products. Apple said rising costs of important components, including chips, were behind the price increases.
Microsoft shares dropped nearly 4%. Microsoft announced higher prices for Xbox gaming consoles. Microsoft said the 512 GB Xbox model will cost $100 more. The 1 TB Xbox model will cost $150 more. Microsoft said gaming consoles are usually sold below manufacturing cost and are not major profit makers.
The overall stock market closed mixed as investors sold technology and chip stocks ahead of Micron’s earnings report. Falling oil prices pushed energy stocks lower and helped Treasury yields decline. Bitcoin dropped below $60,000 again, showing continued weakness in the crypto market.
