Business

Global shares fall as tech stocks tumble

• By Thomson Reuters
• June 23, 2026
• 202

Global stocks fell on Tuesday, led by broad-based declines in technology shares, including SpaceX, as growing expectations for the U.S. Federal Reserve to be more aggressive in tackling inflation drove investors into bonds and the dollar.

Futures on the Nasdaq were down more than 2.5 per cent, suggesting Monday's 1.3 per cent slide might extend into a second day.

Shares in SpaceX struggled to push into positive territory in Tuesday's premarket, after losing nearly 17 per cent on Monday, while the likes of Alphabet, Meta Platforms and Microsoft also tumbled.

Global stocks fell, led by tech, as expectations of a more aggressive Fed drove investors into bonds and the dollar.

S&P 500 e-mini futures were down 1.2 per cent. The STOXX 600 fell 0.8 per cent, under pressure from declines in European semiconductor and chip-equipment makers, which followed declines in tech stocks in Japan and South Korea, where the KOSPI index fell 10 per cent in its largest one-day selloff since March.

"Questions are once again being raised over AI infrastructure spending, particularly as some corporate giants plan to sell equity to help fund expansion," said Trade Nation senior market analyst David Morrison.

"Time will tell if this is yet another 'buy the dip' opportunity, or a harbinger of worse things to come."

Meanwhile, Brent crude futures remained below $80 US a barrel on Tuesday, as the number of vessels transiting through the Strait of Hormuz continued to build.

A drop in oil prices would ordinarily give stocks a boost, but investors are now focused on what the surge in energy prices will mean for central bank policy and, specifically, the Federal Reserve. New chair Kevin Warsh looks set to take a much tougher line on inflation.

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