# S&P 500 futures slip 1.2% as tech sell‑off spreads from Korea

**Published:** 2026-06-23T14:17:42.085Z  
**Topic:** Stock Market  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/51618002-b429-477f-904d-55b7d46ce1df

S&P 500 futures down 1.2% and Nasdaq futures down 2.6% on June 23, 2026, after a 10% KOSPI plunge fuels AI‑stock sell‑off; see yield, oil and Tesla data.

S&P 500 futures fell 1.2% and Nasdaq futures slid 2.6% in early trade, extending yesterday’s tech‑driven decline and signaling fresh pressure on U.S. equities as a 10% crash in South Korea’s KOSPI sparked a global AI‑stock rout【1】.

| At a glance | |
|---|---|
| S&P 500 futures | –1.2% |
| Nasdaq futures | –2.6% |
| 10‑yr Treasury yield | 4.49% (down 0.02 pts) |
| Gold futures | $4,145/oz (‑1.4%) |
| WTI crude | $73.90/barrel (steady) |

## Tech sell‑off widens after KOSPI crash  
The immediate trigger was a 10% plunge in the KOSPI, where heavy losses in chipmakers SK Hynix and Samsung Electronics forced a brief trading halt and sent AI‑related stocks tumbling worldwide【2】. In the U.S., the iShares Semiconductor Index (SOXX) was down nearly 6% and the Roundhill Memory ETF (DRAM) fell 12% in pre‑market trading, reflecting heightened concerns that AI‑related spending may be outpacing demand【1】. Analysts note that the AI rally, which has lifted global equity indices to record highs this year, is now being tested by questions over the sustainability of massive infrastructure spending【2】.

## Market breadth and commodity backdrop  
The fallout spread beyond tech. The 10‑year Treasury yield slipped to 4.49%, a modest 2‑basis‑point decline from the previous close, easing pressure on loan rates but underscoring lingering inflation worries【1】. Gold futures dropped 1.4% to $4,145 per ounce, while Bitcoin slipped to $62,300 after hitting $65,500 the day before【1】. Oil prices held near $73.90 a barrel as the United States temporarily lifted sanctions on Iranian oil, a move intended to support ongoing U.S.–Iran peace talks【1】. European markets also felt the strain, with the Stoxx Europe 600 down 0.92% and the MSCI Emerging Markets Index falling 3.7% amid the risk‑off mood【2】.

## Tesla’s European sales rebound amid broader weakness  
Despite the tech‑sector drag, Tesla reported a sharp uptick in European registrations: 28,610 new vehicles in May, double the volume recorded in May 2025 and outpacing the 39% regional EV growth rate【1】. The sales surge, however, did not lift the stock, which was down more than 2% ahead of the open, tracking the broader sector weakness【1】.

## FedEx earnings on the horizon  
Investors will watch FedEx’s upcoming earnings report, expected to show adjusted earnings of $5.90 per share on $23.98 billion of revenue—an 8% year‑over‑year increase—after the company completed its Freight spin‑off【1】. The results could provide a counterpoint to the prevailing risk‑off sentiment.

## What to watch
- **U.S. inflation data** later this week; a surprise move could shift expectations for rate cuts and affect growth‑stock valuations.  
- **Micron Technology earnings** due later in the week, offering insight into AI‑related memory demand.  
- **KOSPI’s next session**; a rebound or further decline will likely influence global tech sentiment.

The steep fall in futures highlights how quickly AI‑related optimism can reverse when supply‑side concerns surface, leaving markets to reassess the balance between hype and underlying demand.

## Sources
1. Investopedia — [5 Things to Know Before the Stock Market Opens on Tuesday](https://www.investopedia.com/5-things-to-know-before-the-stock-market-opens-tuesday-june-23-2026-12004570)
2. Moneycontrol.com — [Wall Street crash: Why S&P 500, Nasdaq futures tumbled today after KOSPI’s 10% fall; AI sell-off...](https://www.moneycontrol.com/news/business/markets/wall-street-crash-why-s-p-500-nasdaq-futures-tumbled-today-after-kospi-s-10-fall-ai-sell-off-deepens-13956536.html)
3. 247wallst.com — [Stock Market Live June 23, 2026: S&P 500 (SPY) Futures Under Significant...](https://247wallst.com/investing/2026/06/23/stock-market-live-june-23-2026-sp-500-spy-futures-under-significant-pressure/)

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Cite as: TrendWatcher, "S&P 500 futures slip 1.2% as tech sell‑off spreads from Korea", https://www.trendwatcher.in/article/51618002-b429-477f-904d-55b7d46ce1df