Nasdaq Futures Slide as Tech Selloff Deepens
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- U.S. stock futures slipped on June 26, 2026, following a fourth-straight decline for both the S&P 500 and Nasdaq, with chip makers leading tech-sector declines.
- Japan's benchmark index slid more than 4% after a media report suggested OpenAI could hold off on going public until next year, dragging SoftBank Group's shares down 13%.
- The Nasdaq was headed for a weekly loss of 4.4% through Thursday, while the Dow eked out a small weekly gain.
- Oil prices whipsawed after Iran attacked a Singapore-flagged cargo ship in the Strait of Hormuz; Brent crude futures resumed their decline, falling more than 3% to under $73 a barrel.
- Investor doubts about whether the AI boom can sustain its pace have prompted a broader pullback from the tech trade, raising stakes for the market rally given how much of this year's gains have been concentrated in a handful of tech giants.
Why it matters: The week's 4.4% Nasdaq drop and a 13% plunge in SoftBank on an OpenAI IPO-delay report show how much the rally's gains ride on a narrow group of AI-adjacent tech names; if OpenAI's public-market timeline slips, the valuations funding the entire AI complex face a direct repricing test.
