US markets ended in red on Tuesday as a global sell-off in semiconductor and AI-related stocks weighed on markets. On the economic front, the S&P Global US Manufacturing PMI increased to 55.7 in June 2026 from 55.1 in May, surpassing market forecasts of 54.8 and reaching its highest level since May 2022. This expansion signifies that factory business conditions have improved continuously since last August, with growth steadily accelerating from the recent low point in February. Driving this upward momentum, production growth accelerated at the fastest pace since July 2021, propelled by the largest surge in new orders since April 2022. Additionally, input inventories experienced their biggest increase since May 2025, marking the second steepest rise in the history of the survey.
On the sectoral front, substantial weakness was visible among computer hardware stocks, as reflected by the 4 percent nosedive by the NYSE Arca Computer Hardware Index. Outside of the tech sector, gold stocks moved sharply lower along with the price of the precious metal, dragging the NYSE Arca Gold Bugs Index down by 4.5 percent.
Nasdaq decreased 579.56 points or 2.22 percent to 25,587.039, S&P 500 was down 107.33 points or 1.44 percent to 7,365.46 and Dow Jones Industrial Average fell 45.87 points or 0.09 percent to 51,666.84.
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