US tech stocks slide on renewed AI monetization fears

2026-06-23

US tech stocks fell, and selling spread to AI-related shares. In US trading on the 23rd, the Nasdaq Composite briefly fell 2% from the previous day, and Nvidia dropped 4%. Uncertainty over monetizing artificial intelligence (AI) came back into focus.

Major indexes also weakened

The S&P 500 was down 1% as of 9:35 a.m. Eastern time, while the Dow Jones Industrial Average was down about 320 points at around 51,370. The Philadelphia Semiconductor Index (SOX), which is made up of major chip stocks, reversed from the previous day's record high and at one point fell about 8%. Micron Technology fell more than 10% at one point.

Selloff spreads globally

The decline in tech shares began in the US market on the 22nd. News of SpaceX's plan to issue bonds and departures of AI executives at Google parent Alphabet fueled concern that the path to monetizing AI businesses is becoming harder to see. On the 23rd, the Nikkei average fell 4%, or 2,565 yen, the Korea Composite Stock Price Index (KOSPI) dropped 10%, and ASML Holding in the Netherlands fell 6%, with the selloff continuing in US trading.

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