--- title: "Nasdaq 100 Tumbles Over 3%, Marvell Crashes 12%: Stock Market Today" type: "News" locale: "en" url: "https://longbridge.com/en/news/289223406.md" description: "U.S. stocks declined Tuesday as the Nasdaq 100 fell over 3% and the S&P 500 dropped 1.6%, driven by a rotation out of AI and semiconductor stocks like Marvell and Coherent. Oil prices slid more than 5%, while defensive sectors gained. Markets are pricing in potential Fed rate hikes, and geopolitical tensions rose after a U.S. helicopter incident in the Strait of Hormuz." datetime: "2026-06-09T17:26:33.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/289223406.md) - [en](https://longbridge.com/en/news/289223406.md) - [zh-HK](https://longbridge.com/zh-HK/news/289223406.md) --- # Nasdaq 100 Tumbles Over 3%, Marvell Crashes 12%: Stock Market Today U.S. stocks slid Tuesday as the rotation out of high-flying chip and artificial-intelligence names resumed, dragging the Nasdaq 100 down over 3% and pulling the S&P 500 back below 7,300. **• iShares Russell 2000 Index Fund shares are experiencing downward pressure. Why are IWM shares declining?** A parallel collapse in oil prices — crude sank roughly 6% as Israel and Iran halted strikes — did little to steady equities ahead of Wednesday’s pivotal consumer price report. Rather than cuts, markets are now pricing roughly even odds of around 50% that the Federal Reserve delivers a rate hike as soon as October, a hawkish tilt that continues to pressure the most richly valued corners of the market. President **Donald Trump** said on social media that a U.S. helicopter was shot down while conducting a patrol mission over the Strait of Hormuz. He stated that the aircraft had two pilots on board, both of whom are safe, but added that the U.S. “must respond to the attack.” Across U.S. equity markets by midday Tuesday, losses were broad but concentrated in technology. The **S&P 500** fell 1.6% to about 7,228, while the **Dow Jones Industrial Average** proved more resilient, slipping 0.5% to 50,535 as defensive and financial names cushioned the blow. The **Nasdaq 100** bore the brunt of the selling, sliding 3.3% to around 28,437. The small-cap **Russell 2000** gave back an early advance to trade down about 1.3%. The **VIX** soared 14%. **Gold** offered no haven, with prices easing 2% to around $4,264 an ounce, while **silver** crushed over 5%. ## **Tuesday’s Performance In Major U.S. Indices** Index Last % Change S&P 500 7,228 \-1.6% Dow Jones 50,535 \-0.5% Nasdaq 100 28,437 \-3.3% Russell 2000 2,797 \-1.3% _Updated by 12:15 PM ET_ According to the Benzinga Pro platform: - The **Vanguard S&P 500 ETF (NYSE:VOO)** fell 1.6%. - The **SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA)** slipped 0.6%. - The **Invesco QQQ Trust (NASDAQ:QQQ)** slid 3.3%. - The **iShares Russell 2000 ETF (NYSE:IWM)** dropped 1.3%. **Read Also: Micron, Marvell and Arm Stock Charts Flash The Same Warning — One Still Looks Cheap** ## **AI-Optical Complex Implodes While Staples Catch The Bid** The **Technology Select Sector SPDR Fund** (NYSE:XLK) was the session’s clear laggard, sinking 5.1% The damage was deepest among the AI-optical and data center-infrastructure names that have led the 2026 melt-up. The **VanEck Semiconductor ETF** (NASDAQ:SMH) sold off sharply as **Coherent Corp. (NYSE:COHR)** cratered 15.2%, **Marvell Technology, Inc. (NASDAQ:MRVL)** tumbled 12.10% and **Lumentum Holdings Inc. (NASDAQ:LITE)** dropped 11.8%.  **Super Micro Computer, Inc. (NASDAQ:SMCI)** fell a similar 11.8%, with the moves looking like profit-taking after enormous year-to-date runs rather than any fresh company-specific catalysts. Energy was the other soft spot as the **Energy Select Sector SPDR Fund** (NYSE:XLE) slid 2.3% alongside crude’s drop, though it remains the year’s best sector at up 28.3%. On the corporate front, the **J.M. Smucker Co. (NYSE:SJM)** topped the large-cap leaderboard, surging 11.2% after reporting fiscal fourth-quarter adjusted earnings of $2.77 per share, beating the $2.66 consensus, even as revenue of $2.27 billion came in just shy of estimates. **DraftKings Inc. (NASDAQ:DKNG)** rallied 7.9% on its push into prediction markets and supportive analyst commentary, including a UBS price-target hike to $49. On the downside, **SailPoint, Inc. (NASDAQ:SAIL)** sank 13.6% after the identity-security firm posted a quarterly loss of $0.13 per share against expectations of a small profit, overshadowing a 22% jump in revenue to $280 million. Elsewhere in deal news, **Nuvalent Inc. (NASDAQ:NUVL)** soared after **GSK Plc (NYSE:GSK)** agreed to acquire the lung-cancer drug developer for $10.6 billion, or $124 a share in cash. Beyond the tape, OpenAI confidentially filed for an IPO after Monday’s close – a week after rival Anthropic – while SpaceX is slated to make its market debut Friday in what could be the largest listing on record. ## **Tuesday’s Russell 1000 Top Gainers** Name % change **The J.M. Smucker Company** +11.2% **DraftKings Inc.** +7.9% **FedEx Freight Holding Company, Inc. (NYSE:FDXF)** +7.8% **SharkNinja, Inc. (NYSE:SN)** +7.6% **Pool Corporation**  **(NASDAQ:POOL)** +7.1% ## **Tuesday’s Russell 1000 Top Losers** Name % change **Coherent Corp.** \-15.2% **Enphase Energy, Inc. (NASDAQ:ENPH)** \-13.9% **SailPoint, Inc.** \-13.6% **Marvell Technology, Inc.** \-12.10% **Lumentum Holdings Inc.** \-11.8% **Read Also: Micron's 750% Surge Just Got Upstaged By These Two Russell 2000 Stocks** _Photo: Shutterstock_ ### Related Stocks - [COHR.US](https://longbridge.com/en/quote/COHR.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [.NDX.US](https://longbridge.com/en/quote/.NDX.US.md) - [MRVL.US](https://longbridge.com/en/quote/MRVL.US.md) - [MVLL.US](https://longbridge.com/en/quote/MVLL.US.md) - [BNO.US](https://longbridge.com/en/quote/BNO.US.md) - [UCO.US](https://longbridge.com/en/quote/UCO.US.md) - [SPXL.US](https://longbridge.com/en/quote/SPXL.US.md) - [SSO.US](https://longbridge.com/en/quote/SSO.US.md) - [XSD.US](https://longbridge.com/en/quote/XSD.US.md) - [USO.US](https://longbridge.com/en/quote/USO.US.md) - [IVV.US](https://longbridge.com/en/quote/IVV.US.md) - [SPY.US](https://longbridge.com/en/quote/SPY.US.md) - [SPLG.US](https://longbridge.com/en/quote/SPLG.US.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [UPRO.US](https://longbridge.com/en/quote/UPRO.US.md) - [VOO.US](https://longbridge.com/en/quote/VOO.US.md) - [SH.US](https://longbridge.com/en/quote/SH.US.md) - [SPXS.US](https://longbridge.com/en/quote/SPXS.US.md) - [SPXU.US](https://longbridge.com/en/quote/SPXU.US.md) - [MRVU.US](https://longbridge.com/en/quote/MRVU.US.md) - [SMH.US](https://longbridge.com/en/quote/SMH.US.md) - [SOXL.US](https://longbridge.com/en/quote/SOXL.US.md) - [SOXQ.US](https://longbridge.com/en/quote/SOXQ.US.md) - [PSI.US](https://longbridge.com/en/quote/PSI.US.md) - [FTXL.US](https://longbridge.com/en/quote/FTXL.US.md) ## Related News & Research - [LIVE MARKETS-Why the oil price hasn't broken higher? 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