Global Morning Briefing — 2026-06-24

Market Snapshot at a Glance

1 sources

forbes.com

forbes.com

U.S. Market Closing Review

The U.S. stock market saw a significant drop yesterday (June 23). The S&P 500 fell -1.62% (-119.66p), the Dow Jones slipped -1.87% (-953.33p), and the tech-heavy Nasdaq recorded its worst single-day drop since April 2025.

Key Bearish Factors:

• Semiconductor plunge: A sharp decline in South Korean chip stocks triggered a global sell-off in the semiconductor sector, compounded by preemptive selling pressure ahead of Micron Technology's earnings release.
• BofA rate hike concerns: Bank of America’s inflation outlook and mentions of potential Federal Reserve rate hikes pushed long-term bond yields higher.

Market Sentiment: Deepening avoidance of tech stocks and fears of further weakness in cyclicals.

Today’s Key Stocks (At least 5)

Top Gainers

• SMCI (Super Micro Computer) — +15.66%: Investor interest in AI infrastructure suppliers despite broader semiconductor weakness.
• COHR (Coherent Corp.) — +9.22%: Optical and semiconductor solution provider showing relative strength amid tech weakness on individual earnings expectations.

Top Losers

• Semiconductor Sector Overall — Multi-% drop: Declines in global chip firms, including Taiwan Semiconductor Manufacturing (TSMC).
• Broad Tech Sell-off — Persistent broad-based declines across Nasdaq constituents.

Macro & Economic Indicators

• 10-Year Treasury Yield: Shifted upward due to deepening inflation concerns, fueling speculation of Fed rate hikes. The market continues to monitor the potential for long-term rate increases despite the anti-inflation resolve of Fed Governor Kevin Warsh.

• Strong Dollar: The dollar index is firm, driven by intensifying demand for safe-haven assets and signs of global risk aversion.

• Oil Prices: WTI crude oil fell as U.S.-Iran peace talks progressed, partially easing supply-side anxiety. However, concerns regarding global inventory depletion persist.

Global Top News (By Market Impact)

Semiconductor slump triggers global tech sell-off

• What happened: A sharp decline in Taiwan chip stocks spread to South Korean and U.S. semiconductor stocks. Preemptive selling pressure continues ahead of the Micron Technology earnings announcement.
• Market Implication: Continued weakness is likely for memory semiconductor-related stocks like Samsung Electronics and SK Hynix. Increased concern over further drops in the KOSDAQ, which has a high weight in tech stocks.

U.S.-Iran peace talks progress, oil prices fall

• What happened: Tehran announced that it secured exemptions for oil and petrochemical exports following U.S.-Iran talks. Expectations are rising for the resumption of tanker traffic through the Strait of Hormuz.
• Market Implication: A sign of easing inflationary pressure due to weaker energy prices. However, uncertainty regarding the restoration of global supply remains due to China's absence from the negotiations.

Fed's anti-inflation resolve vs. long-term rate tension

• What happened: Despite Federal Reserve Governor Kevin Warsh's promise to curb inflation, the market is increasingly pricing in the possibility of rate hikes. The 30-year Treasury yield is projected to exceed 5% by the end of the year.
• Market Implication: Rising long-term interest rates place a burden on growth and tech stocks. South Korea's 2-year Treasury yield and the dollar exchange rate are also facing upward pressure, raising the possibility of higher import prices.

Trade war fears as cheap Chinese goods flood Europe

• What happened: Europe is considering strengthening trade barriers, citing threats to its manufacturing sector due to an influx of low-priced Chinese goods.
• Market Implication: Heightened global trade tensions are deepening risk aversion. Potential limitations on South Korean exporters' sales to China.

Korean Market Checkpoint

The semiconductor weakness on the U.S. Nasdaq and the drop in Taiwan's TSMC stock are likely to directly hit Samsung Electronics (est. -23%) and SK Hynix (est. -34%). While energy and chemical stocks may show relative strength as oil prices fall due to U.S.-Iran talks, the KOSDAQ, with its high tech weighting, is expected to be significantly impacted by the Nasdaq's weakness. The KRW/USD exchange rate may face upward pressure toward the 1,250 range due to the strong dollar.

Watch List

• Economic Indicators/Events: Micron Technology (MU) earnings (after U.S. close, June 25, early morning Korea time), FedEx (FDX) earnings scheduled.
• Earnings Releases: Micron Technology — The outlook for memory supply and visibility into AI chip demand will determine the direction of global semiconductor stocks.
• Fed/Policy Events: Monitoring whether Federal Reserve Governor Kevin Warsh reaffirms his commitment to curbing inflation.
• Risk Factors: (1) Potential for further Nasdaq deterioration due to semiconductor weakness, (2) Risk of oil price spikes if U.S.-Iran talks collapse.

Investor Action Items

1. Morning Session Response: Be cautious of preemptive selling pressure on Samsung Electronics and SK Hynix. Observe Nasdaq futures (overnight) and watch the market's reaction at the opening.
2. Sector Check: Given the likelihood of continued tech/semiconductor weakness, explore relative strength opportunities in energy, chemicals, and finance. However, be cautious in judging whether the mid-to-long-term tech adjustment is a buying opportunity.
3. Risk Management: Consider reducing exposure to U.S. tech stocks before Micron’s earnings release. Investors holding semiconductor funds/ETFs should consider partial liquidation before losses widen.

[This briefing is as of the morning of 2026-06-24; the global semiconductor outlook may change rapidly following the Micron earnings release overnight. Real-time market monitoring is recommended.]