US stock markets ended slightly lower on Friday after investors continued selling technology and AI-related stocks and shifted money into safer sectors like healthcare and consumer staples.
The S&P 500 slipped 0.1%, the Nasdaq Composite fell 0.2%, and the Dow Jones Industrial Average lost around 70 points, or 0.1%, by the close. For the week, the S&P 500 fell more than 1%, while the Nasdaq dropped around 4% because of heavy selling in technology stocks.
The Dow Jones was the only major index to end the week higher, gaining about 0.6%. Technology stocks remained under pressure after a New York Times report said OpenAI may delay its planned IPO until next year. The report said the delay is linked to SpaceX’s weak stock performance after its IPO and the recent volatility in AI-related stocks.
OpenAI IPO delay
JPMorgan traders said the IPO delay has raised concerns about whether AI companies can continue spending heavily on infrastructure if funding from capital markets slows down. Adam Crisafulli of Vital Knowledge said delaying the OpenAI IPO could slow future spending on AI infrastructure.
Chip stocks fall
Chip stocks fell sharply after the report. Micron Technology dropped 4%, AMD lost 2%, and Intel fell more than 3%. The technology sell-off spread to Asia, where markets also saw heavy losses. SoftBank Group, one of OpenAI’s biggest investors, plunged more than 12% during trading in Asia.
Major indexes closing figures:
- Dow Jones Industrial Average: 51,920.62 (+0.10%)
- S&P 500 Index: 7,357.49 (-0.01%)
- Nasdaq Composite: 25,358.60 (-0.46%)
Healthcare stocks rise
The S&P 500’s technology sector fell about 1% as investors continued selling chipmakers. Healthcare stocks attracted fresh buying after performing well in the previous session. Eli Lilly jumped 7%, Johnson & Johnson gained more than 3%, and AbbVie rose over 1%. Other defensive sectors also performed well. Consumer staples rose more than 1%, financial stocks gained 0.8%, and utilities climbed 0.4%.
Also read: Alphabet joins Dow Jones: Why Google parent is replacing Verizon
The market received some support from better-than-expected US consumer sentiment data and an improved outlook for inflation. Oil prices stayed lower even after President Donald Trump accused Iran of violating the ceasefire agreement. Trump claimed Iran launched attack drones at ships travelling through the Strait of Hormuz, calling it a violation of the ceasefire.
Oil prices stay low
Even after Trump’s comments, US crude oil (WTI) fell 4.1% and Brent crude dropped 4.5% on Friday. Goldman Sachs’ John Flood said investors are still in a “buy the dip” mindset despite recent market volatility, quoted by CNBC.
Wedbush started coverage of quantum computing company Infleqtion with an “Outperform” rating and a $20 price target, implying about 56% upside from Thursday’s closing price, as cited by CNBC. Infleqtion shares are still down about 12% this year despite the positive rating. Citigroup upgraded Allegiant Airlines from “Hold” to “Buy” and increased its price target to $156, suggesting around 42% upside.
Healthcare leads week
SpaceX shares had climbed above $200 after listing at $150 but later fell back to around their IPO price. Healthcare was the best-performing sector this week, rising more than 7%, marking its strongest weekly gain since June 2022. The healthcare sector outperformed the broader S&P 500, which fell about 1.8% during the week.
Bio-Techne gained more than 22% this week, while Incyte rose over 15%, leading healthcare gains. Pfizer and DexCom were among the weaker healthcare stocks, with both falling more than 4% this week.
Which sectors performed (June 25, 2026)
Sector performance today
- Healthcare: Up about 2.2% (best-performing sector)
- Consumer Discretionary: Up about 1.6%
- Real Estate: Up about 1.1%
- Consumer Staples: Up about 1.0%
- Financials: Up about 0.5%
- Information Technology: Down about 0.6%
- Energy: Down about 0.5%
- Industrials: Down about 0.8% (via Bloomberg)
Overall, Friday’s market was driven by continued selling in AI and chip stocks, while investors shifted money into healthcare and other defensive sectors, helping limit broader market losses.
