Wall Street rally pauses, US stocks dip, led by Big Tech

From Yahoo Finance: 2025-06-11 00:28:00

Wall Street paused its rally as U.S. stocks edged closer to all-time highs, with the S&P 500 slipping 0.3%, the Dow Jones staying flat, and the Nasdaq falling 0.5%. Big Tech stocks led the decline, with Apple dropping 1.9% after modest software updates were announced.

Treasury yields eased after reports suggested that President Trump’s tariffs were not significantly increasing inflation. U.S. consumer prices rose 2.4% in May compared to a year earlier, slightly higher than April but below Wall Street expectations of 2.5%.

Trump stated that China will supply rare-earth minerals and magnets to the U.S., while talks between the U.S. and China in London had modest market reactions. Investors are hopeful for a broader trade deal to ease tensions between the two economies.

On Wall Street, Chewy’s stock dropped 11% after weaker-than-expected profits, while Tesla fluctuated before ending with a 0.1% gain. The S&P 500 fell to 6,022.24, the Dow Jones slipped to 42,865.77, and the Nasdaq sank to 19,615.88.

Inflation data exceeding expectations raised speculation of potential Fed rate cuts. The Fed has kept rates steady this year, monitoring the impact of tariffs on inflation. Analysts suggest preemptive rate cuts may be justified to counter potential inflation spikes.

European stock indexes declined after Asian gains, with South Korea’s Kospi rising 1.2%. Market reactions to Trump’s tariffs and trade talks remain uncertain, with hopes for easing tensions and avoiding economic downturns.

Read more: Wall Street’s rally stalls as US stocks dip for their 1st loss in 4 days