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macroJun 24, 2026, 7:36 AM

Tech Rout Sends US Stocks Lower, Dollar Hits Fresh 2026 High

US equity benchmarks fell sharply on Tuesday as a selloff in technology stocks deepened, while the US dollar strengthened to a new high for 2026.

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Major US stock indices closed deeply in the red on Tuesday. The Nasdaq 100 dropped 3.3%, the S&P 500 fell 1.4%, and the Dow Jones Industrial Average slipped 0.1%. The decline was led by technology shares amid mounting doubts over the sustainability of the AI-driven rally.

The Philadelphia Semiconductor Index (SOX) also slid sharply, adding to the broad-based tech weakness. Meanwhile, the US dollar climbed to a fresh high for the year 2026, extending its recent upward trend against major currencies.

Source: FXStreet Forex News