U.S. AI stocks saw another selloff on June 10, dragging down all three major U.S. stock indexes: the S&P 500 fell 119.66 points to close at 7,266.99 points, marking its first consecutive decline in three weeks and retreating to early-May levels; the Dow Jones Industrial Average plunged 953.33 points to close at 49,918.78 points; and the Nasdaq led the drop, falling 509.32 points to close at 25,169.50 points.
Wall Street Tech Stock Selloff Data
Nvidia: Down 3.7%, the biggest drag on the S&P 500; its market cap is currently about $4.9 trillion.
Broadcom: Down 5.1%, the second-largest drag on the S&P 500.
Super Micro Computer (SMCI): Late Tuesday, it announced plans to raise about $7 billion by selling stock and convertible preferred shares; such share issuance plans would dilute existing shareholders’ stakes, and on Wednesday the stock price promptly crashed 28%.
Micron Technology: Closed down 4.7% on Wednesday; trading-range recap: fell 7.7% last Thursday, fell 13.3% last Friday, and rebounded 9.9% on Monday; the annualized gain through 2026 is still 212.5%.
Aviation and cruise stocks (hit by oil prices): United Airlines fell 6.2%; Carnival fell 6.3%.
Macroeconomic Data: Inflation, Oil Prices, and Interest Rates
May CPI (released Wednesday): U.S. consumer prices rose at the fastest pace in three years in May.
Brent crude oil: Up 1.8% to $93.10 per barrel; Trump warned that Iran will “pay a price” for a negotiating deadlock; the Strait of Hormuz was effectively closed to tankers, obstructing Persian Gulf crude shipments.
U.S. Treasury yields (Wednesday): The 10-year yield edged up from 4.53% to 4.54%; the 2-year yield held at 4.13%.
Fed rate expectations (CME Group data): Traders are currently pricing in at least one rate hike by the Fed this year; the Wednesday inflation data did not have a significant impact on that outlook.
Overseas Markets Follow Wall Street Lower
South Korea KOSPI: Down 4.5% (Samsung Electronics and SK hynix shares falling were the main drag).
Japan’s Nikkei 225: Down 1.9%; Japan’s May PPI hit the fastest growth rate in more than three years; SoftBank Group fell 8.3%.
European stocks: Mixed performance.
FAQ
What were the closing values of the three major U.S. stock indexes on Wednesday?
According to an AP report on June 11, 2026: the S&P 500 closed at 7,266.99 points (down 119.66 points, -1.6%); the Dow Jones Industrial Average closed at 49,918.78 points (down 953.33 points, -1.9%); and the Nasdaq Composite closed at 25,169.50 points (down 509.32 points, -2.0%). The S&P 500 posted its first consecutive decline in three weeks, falling back to the level from five weeks earlier (early May).
Why did the stock of Super Micro Computer (SMCI) plunge 28% on Wednesday?
Super Micro Computer announced late Tuesday that it plans to raise roughly $7 billion in cash by selling shares and convertible preferred stock. Such share issuance plans would dilute existing shareholders’ stakes, triggering selloffs and causing the stock price to crash 28% on Wednesday.
How did May U.S. inflation data affect market expectations?
The May CPI released on Wednesday showed U.S. consumer prices rose at the fastest pace in three years, but because the data was broadly in line with expectations, the 10-year Treasury yield rose only slightly to 4.54%. CME Group data showed that traders’ bets on at least one Fed rate hike this year did not change significantly due to this data.
