The stock market is showing mixed performance today (June 23, 2026) with several key developments: **Market Performance:** - **S&P 500:** Down 1.53% - **Dow Jones Industrial Average:** Down 0.58% - **Nasdaq:** Down 2.3% - **Russell 2000:** Up 0.83% **Key Drivers:** 1. **Global Tech Selloff:** South Korea's KOSPI plummeted 9.99% (its steepest drop in over 3 months) after chip stocks were dumped due to regulatory signals suggesting the rally had become overheated. Samsung and SK Hynix both tumbled over 12%. 2. **Semiconductor Weakness:** Major chip stocks are under pressure: - Nvidia (NVDA) down 3.2% to $201.97 - Micron (MU) down 11.4% to $1,074.60 - Taiwan Semiconductor (TSM) down 5.2% to $443.35 - VanEck Semiconductor ETF (SMH) down 6.5% 3. **Oil Prices Falling:** Investors are monitoring negotiations between the U.S. and Iran. 4. **Individual Stock Moves:** - SanDisk (SNDK) down 11.73% - AMC Entertainment (AMC) down nearly 24% after announcing a $200 million share sale - Oracle (ORCL) down 2.6% after disclosing AI-driven layoffs of 21,000 jobs (13% of workforce) 5. **Defensive Sectors:** Some defensive stocks are advancing, with Public Storage up 4.4%, IBM up 4.2%, and Accenture up 3.3%. The overall theme is a risk-off environment with investors rotating out of richly valued growth/tech stocks into more defensive areas, particularly after the semiconductor selloff in Asia spread globally.