Daily US Stock Market Report — June 10, 2026
Fear is driving the US market — a broad selloff knocked the S&P 500 down 1.62%, the Nasdaq 1.98%, and the Dow 1.87%, as US inflation hit 4.2% (a three-year high) and AI-related chip stocks resumed their slide. Super Micro Computer (SMCI) collapsed 27.98% on heavy volume, while the VIX surged 5% to 19.87.
Big Picture
June 10, 2026 was a risk-off day across US markets. Three macro forces converged: (1) CPI for May came in at 4.2% year-over-year — the hottest reading in three years — driven almost entirely by energy costs stemming from the US-Israeli conflict with Iran and the effective shutdown of the Strait of Hormuz; (2) AI and semiconductor stocks resumed their selloff after last week's sharp pullback from June 2 record highs; and (3) the highly anticipated SpaceX IPO is causing some investors to raise cash, weighing on tech positioning. Treasury yields climbed broadly (10-year at 4.549%), providing headwinds for equities.
Index Performance
S&P 500: 7,266.99 (-1.62%) Nasdaq Composite: 25,169.50 (-1.98%) Dow Jones: 49,918.78 (-1.87%) Russell 2000: 2,835.46 (-1.10%) VIX: 19.87 (+5.02%)
Sector ETF Tracker
SOXS (Direxion Daily Semiconductor Bear 3X): +10.79% — 3x leveraged short-semiconductor ETF surged reflecting severity of chip-stock selling SQQQ (ProShares UltraPro Short QQQ): +6.05% TZA (Direxion Daily Small Cap Bear 3X): +3.08%
Top Stock Movers
Biggest Gainers: FRMI (Fermi Inc.): $6.89 (+22.60%) AAPL (Apple Inc.): $291.58 (+0.35%)
Biggest Losers: SMCI (Super Micro Computer): $29.27 (-27.98%, 186M shares) MRVL (Marvell Technology): -5.35% MU (Micron Technology): -4.70% NVDA (NVIDIA): -3.73% AVGO (Broadcom): -5.12% QCOM (Qualcomm): -6.92%
Crypto and Commodities
WTI Crude Oil: $91.06 (+3.24%) Gold: $4,102.00 (-4.30%) Bitcoin: $61,840.15 (+0.46%)
Key Market Indicators
Treasury Yields (Rising): 10-Year: 4.549% (+0.020) 30-Year: 5.028% (+0.022)
May 2026 CPI: The Inflation Shock
May CPI: 4.2% year-over-year (vs 3.8% in April) — hottest in three years Monthly CPI: 0.5% Core CPI: 2.9%
Energy costs accounted for 60% of the monthly CPI increase. The US-Israeli war with Iran has shut the Strait of Hormuz. Gas prices surged 25.3% in March 2026. Real wages fell -0.7% — second consecutive monthly decline.
AI Selloff Resumes
The tech sector's 20% rally in April and May has given way to consolidation. The semiconductor index fell ~2% on Tuesday (after dropping 8.5% at session lows). SMCI, NVDA, and MRVL led the decline. The Nasdaq is now down ~5% from its June 2 all-time high. SpaceX IPO positioning is causing some investors to raise cash.
Looking Ahead
Markets face a delicate balancing act: (1) Inflation may rise further toward 4.5-5% if oil remains elevated; (2) the Fed under new chair Kevin Warsh faces pressure to keep or raise rates; (3) the SpaceX IPO will absorb significant capital; (4) the AI infrastructure buildout remains a real fundamental driver even as near-term prices consolidate.
Sources: CNN Markets, Investing.com, CNN Business | Report generated June 11, 2026