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Nasdaq down 0.4% on June 24 as Micron’s earnings spark memory stock rally, Apple slides, and 10‑year Treasury yield falls to 4.41% after May inflation data.
The Nasdaq Composite fell 0.4% on June 24, snapping a brief rally in memory stocks after Micron’s strong earnings, while Apple shares tumbled and the 10‑year Treasury yield slipped to 4.41% following the May PCE inflation report [1].
| At a glance | |
|---|---|
| Nasdaq change | –0.4% |
| S&P 500 change | –0.1% |
| 10‑year Treasury yield | 4.41% (down from 4.50%) |
| Apple stock | down ~2% |
Micron’s quarterly results posted after the bell on June 23 showed adjusted earnings of $25.11 per share on revenue of $41.46 billion, far exceeding analysts’ expectations of $21.05 EPS on $36.28 billion revenue [1]. The surprise lift sparked a 13% after‑hours jump in Micron shares and revived buying in other memory makers, with SanDisk and Western Digital each falling 2%–4% on the day as investors priced in the earnings beat. Despite the memory‑stock bounce, the broader tech‑heavy Nasdaq slipped 0.4%, marking a third consecutive daily decline.
At the same time, Apple’s stock slid about 2%, pulling down the “Magnificent Seven” cohort that otherwise held most of the index’s weight. The drop in the Nasdaq was compounded by a modest rise in the dollar index to 101.60 and a 5% fall in oil prices, which pushed WTI crude to $69.80 per barrel—the lowest level since the Iran war began [1].
The 10‑year Treasury yield fell to 4.41% after the May Personal Consumption Expenditures (PCE) price index showed inflation rising 4.1% year‑over‑year, up from 3.8% in April, according to the latest government data [1]. The higher headline inflation was offset by a decline in the yield, reflecting market expectations that the Federal Reserve may keep rates steady despite the uptick. The 2‑year yield, a proxy for near‑term rate expectations, remained near its yearly high at 4.16% [1].
The juxtaposition of Micron’s earnings surprise with a falling Treasury yield underscores a market caught between strong sector‑specific news and broader macro‑economic uncertainty, leaving investors to watch whether memory stocks can sustain momentum amid lingering inflation concerns.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jun 25, 2026 · How we report
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