S&P 500, Nasdaq close lower, dragged by Alphabet and megacap tech; focus on Iran

S&P 500, Nasdaq close lower, dragged by Alphabet and megacap tech; focus on Iran

By Abigail Summerville, Twesha Dikshit and Joel Jose

Mon June 22, 2026  

AI profitability jitters rattled the tech sector again today dropping both the S&P and Nasdaq like rocks from the outset with funds flowing back into industrials as the Dow rose 3-digits again. The markets continue to evaluate the very up and down Iran negotiations. The next test for tech comes Wednesday with Micron’s quarterly report, which is up 300% so far this year.  

PCE is also coming in this week and if it comes in hot will reinforce the Fed’s newly hawkish stance. Energy prices continue to come down which is a stimulant for both the consumer and business. Volume came in a tad above the 22.12 average, closing today at 22.97 billion. 

DJ: 51,564.70  +72.15        NAS: 26,517.93  +496.28       S&P: 7,500.58  +80.48           6/18

DJ: 51,712.71  +148.01      NAS: 26,166.60  -351.33        S&P: 7,472.79  -27.79             6/22

Mon 6-22-26 4:47 pm S&P 500, Nasdaq close lower, dragged by Alphabet and megacap tech; focus on Iran | Reuters