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AI-Themed Stocks Tanking, Consumer Confidence Rising and SpaceX Joining an Index | Markets P.M. for June 26
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What Happened in Markets Today
Stock indexes closely tied to AI fell Friday. Japan’s benchmark index slid more than 4%, weighed down by a 13% plunge in SoftBank Group’s shares, after a media report suggested OpenAI could hold off going public until next year. South Korea’s Kospi index, which includes Samsung and SK Hynix, dropped almost 6%. In the U.S., Micron fell almost 7%, reversing some of the memory-chip maker’s gains after Wednesday’s blockbuster earnings report. The PHLX semiconductor index dropped about 5%, while the Roundhill Memory ETF fell 6.5%. Major U.S. indexes were down slightly. The Nasdaq fell 0.2% while the Dow industrials and S&P 500 each fell 0.1%.
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