World stocks edge lower as tech selloff drags markets

NEW YORK - Global equity markets edged lower on Friday, set for a weekly decline as investors kept taking profits on high-flying technology and chip stocks, while crude oil prices slumped as more tankers left the Strait of Hormuz.

On Wall Street, all three indexes were trading lower in choppy trading as losses in industrials, technology and energy offset gains in healthcare and real estate stocks.

The S&P 500 and the Nasdaq were on track for a weekly loss while the Dow was headed for a weekly gain.

Chip stocks were down 5%, set for a weekly loss of 7.7%, the largest weekly decline since March.

The Dow Jones Industrial Average fell 0.11%, the S&P 500 lost 0.15% and the Nasdaq Composite fell 0.29%.

"It's a combination of a needed and healthy period of consolidation following the historic run since March and a dramatic rotation from tech and everything else," said Mark Hackett, chief market strategist at Nationwide.

"Overall, the selloff is modest when put in context, and I expect we resume higher once this period of consolidation concludes since investors still have a buy-the-dip mentality and fundamentals remain solid."

Price hikes announced by Apple had fuelled worries about structural inflation from massive spending by AI giants and limited availability of key tech components.

European stocks fell nearly 0.7%, with technology stocks shedding 1.17%.

MSCI's index of Asian stocks outside Japan fell nearly 3%. South Korea's KOSPI lost as much as 5.8%.

MSCI's gauge of stocks across the globe fell 0.62% and was set for a 2.2% loss for the week.

OIL PRICES FALL SHARPLY

Crude prices tumbled on easing supply concerns as more oil tankers exited the Strait of Hormuz, even though a cargo vessel was hit near Oman on Thursday.

Refining giant Saudi Aramco resumed oil loading on Friday at its Ras Tanura terminal in the Gulf after a nearly four-month halt, shipping data from LSEG showed.

Brent crude futures fell 4.34% to settle at $72 per barrel.

YEN WEAKNESS

The yen teetered near its weakest level in 40 years against the dollar at 161.71, beyond the 160 level that many see as a line in the sand for Japanese authorities.

The euro was up 0.14% at $1.1385 but was set for a second consecutive weekly loss against the dollar.

The dollar index eased but was headed for a second straight weekly gain against peers. The index fell 0.16% to 101.35.

In bonds, benchmark Treasury yields were lower in Europe and the U.S. The yield on benchmark U.S. 10-year notes fell 1.95 basis points to 4.373% while the yield on the benchmark German 10-year Bunds fell 0.53 basis points to 2.848%.

Spot gold rose 1.01% to $4,067.55 an ounce.

(Reporting by Chibuike Oguh in New York; Editing by Chizu Nomiyama and David Gregorio)

Copyright Reuters or USA Today Network via Reuters Connect.

This story was originally published June 26, 2026 at 1:04 PM.