Global Market Today: Asian stocks drop at open, Brent snaps advances

Stock Market Today: Stocks Slide as Tech Sell-Off Expands to Memory, Chips; SpaceX Bounces Off Record Low

Stock Market Today: Stocks Slide as Tech Sell-Off Expands to Memory, Chips; SpaceX Bounces Off Record Low Investopedia S&P 500 falls on global chip rout with Nasdaq off more than 1%, led by Micron: Live updates CNBC Tech stocks tumble on concerns over AI spending BBC Wall Street tumbles as tech rout deepens; Nasdaq 100 slides over 3%, S&P 500 down by 1.5% Moneycontrol.com US AI stock sell-off shakes markets from Wall Street to Asia The Guardian

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S&P 500 futures decline after tech sell-off drags down broad market index; South Korea's Kospi falls over 6%: Live updates CNBC Stock Market News, June 22, 2026: Nasdaq Drops, Oil Slides After Signs of U.S.-Iran Progress WSJ Stock market today: S&P 500, Nasdaq slide as Big Tech, SpaceX hammered Yahoo Finance Markets News, June 22, 2026: Dow Ekes Out Gain as Big Tech Stocks Weigh on Nasdaq; SpaceX Falls To Lowest Close Ever Investopedia US stocks drift near their records in mixed trading after oil prices fall KSL News

Investors expecting 15-20% returns may be disappointed: Rajeev Thakkar

Investors should get used to lower nominal equity returns, said Rajeev Thakkar, chief investment officer and director at PPFAS Mutual Fund. In an interview with Nishanth Vasudevan, Thakkar, who manages ₹1.62 lakh crore of investor money, discussed various topics, including valuations, investing abroad, his fund's cash positions, and the theme of AI. Edited excerpts:Is the worst over for the markets, now that there is some semblance of peace in West Asia?There has been some time correction in specific stocks and some price correction as well. From that point of view, things are looking better.There will be challenges in the June quarter, and maybe even one or two quarters, because of supply chain issues and higher input costs. After that, things will normalise. Earnings may not be that robust, which is okay because people are factoring that in. This creates a base for more reasonable valuations and returns.In 2024, one big concern about India was valuation excesses. Have those excesses gone away after 2 years?They have not completely gone away. The average market is at average multiples. The Nifty is at around 20 times earnings. There is a segment of the market that is attractive and cheap. There is still a segment that looks frothy. That segment still must either time-correct or price-correct.So, what does that mean for equity returns?People must get accustomed to lower nominal returns, given that corporate profits have not been growing that fast. This get-rich-quick kind of thing will not work. People coming into equities expecting 15-20% returns may be disappointed. If someone is willing to give it five years and accept that if fixed income is giving 7, I am happy with 10-12%, then it can work.Where do you see the biggest mispricing in the market?The newer listings and extremely competitive spaces where profitability is hard to come by. The food delivery and quick commerce space, for example. Two listed players, a third one about to get listed, two MNCs competing in that space, and some bigger corporate houses in India wanting to compete there.As a consumer, of course, there is a strong value proposition. They are seeing revenue growth. But cash flows and profits are tough, given the elevated competition.In the case of discount brokers, the profit growth has come in a benign environment. Now, in an environment where the end customer is not making too much return, trading volumes could be subdued.Similarly, there are risks in consumer-facing companies trading at 80, 90 or 100 times earnings. These stocks are pricing in all the favourable outcomes in the future. If something even small goes wrong, investors could end up losing money.You have been criticised by a section of the industry for holding higher-than-average cash in your portfolios. What is your response?I think people should focus on what they do rather than what others are doing. The Flexi Cap category allows a minimum of 65% in equities and up to 35% in debt and money market instruments. It is permissible, and from day one, we have been saying this is our style. If you don't like this approach, don't invest in it. Invest in funds where money is deployed 100% all the time. I don't see why the criticism is so intense.If there were no restrictions on investing abroad, what would your portfolio look like?India's market cap is 3-4% of the global market cap. The fund structure allows us to invest up to 35% in global stocks. But that is constrained by the RBI's limit. If those restrictions were not there, we would probably be 30% invested in global stocks, like we were before the limit was set.There is a growing view among domestic investors that if they want alpha, investing only in India is not enough. Do you agree?It is not about getting extra returns. It is about reducing risk in the portfolio.From 2000 to 2010, Indian markets would have done far better than the US. US markets had 10 years of zero returns. Over the last three or four years, US markets have done much b

US stocks today: Nasdaq crashes 1,100 pts, Dow 600 pts as chip stocks slide; jobs data fuels rate hike fears

SynopsisWall Street tumbled as a strong U.S. jobs report dimmed hopes of rate cuts, triggering a sharp selloff in overheated tech and chip stocks. The Nasdaq plunged over 4%, ending a nine-week rally, while persistent Middle East tensions and rising yields further pressured investor sentiment.Listen to this article in summarized formatReutersWall Street's nine-week winning streak ended with a thud on Friday, as red-hot technology stocks suffered their largest daily decline this year after a hot May jobs report fueled fears of a hawkish policy pivot from the U.S. Federal Reserve.Selling was concentrated among chip stocks and other technology favorites that have surged higher in recent weeks as the Nasdaq Composite Index and S&P 500 rose repeatedly to fresh highs.All three major U.S. stock indexes closed sharply lower, with ‌plunging chip stocks ⁠dragging the ⁠tech-laden Nasdaq down by its largest one-day percentage loss since last year.The S&P 500 ended its nine-week run of Friday-to-Friday gains, its longest weekly winning streak since one that ended in December 2023."After the record run we've seen the last nine weeks in equities, specifically tech and semiconductors, the dam just broke today," said Ryan Detrick, chief market strategist at Carson Group in Omaha. "Obviously, the stronger-than-expected jobs report puts the Fed in a tough spot regarding any interest rate cut for the rest of the year. And the market is throwing a fit by hitting the big winners so far this year."Rising interest rates and the Iran war weighed on sentiment heading into the weekend, but many investors said they expected tech stocks to continue rallying."The market ⁠reaction today ‌was more driven by positioning rather than fundamentals," said Ohsung Kwon, chief equity strategist at Wells Fargo. "The semiconductor sector was way overbought. That's why we're seeing the selloff. I don't think it's the end of the semi bull market." The U.S. economy added 172,000 jobs ⁠in May, according to the Labor Department, more than double analyst expectations, while the unemployment rate held firm at 4.3%. The robust report was double-edged: it provided reassurance of U.S. economic health, but all but killed any hopes of an interest rate cut from the Fed in the near future.Financial markets are pricing in a growing likelihood of a rate hike at the conclusion of the Fed's December meeting, according to CME's FedWatch tool.Fading hopes for a near-term resolution to the Middle East war and reopening the Strait of Hormuz are stirring fears that energy price pressures could morph into wider, systemic inflation. Iran reaffirmed its support for Hezbollah and demanded that Israel withdraw its troops from southern Lebanon, further complicating efforts to secure a near-term peace deal that would include the resumption of traffic through the ‌crucial strait. U.S. President Donald Trump's administration has negotiated three truces, and while fighting has been greatly reduced, the two sides continue to trade airstrikes.According to preliminary data, the S&P 500 lost 199.64 points, or 2.63%, to end at 7,384.67 points, while the Nasdaq Composite lost 1,117.38 points, or 4.16%, to 25,713.58. The ⁠Dow Jones Industrial Average fell 684.53 points, or 1.33%, to 50,877.40.Nvidia, the largest company by market value, fell sharply, as did smaller rivals Intel, Micron, AMD and Broadcom. Lululemon Athletica slumped after the athletic apparel maker cut its annual profit forecast and projected second-quarter earnings well below Wall Street estimates. Cooper Companies rose after the contact lens maker beat estimates for second-quarter results.Cryptocurrency firms Coinbase and Strategy were pulled lower by bitcoin's sharp drop. S&P Global said it would not change the eligibility requirements for its major indices, which effectively rules out a swift entry for Elon Musk's SpaceX to the benchmark S&P 500 after it goes public in what would be the world's biggest initial public offering.

Petrol, diesel prices today, 22 May: Check fuel rates in Delhi, Mumbai, Bengaluru, Kolkata

Petrol, diesel prices today, 22 May: Fuel rates across India remain steady today after prices were increased by up to 90 paise per litre on Tuesday, marking the second hike in less than a week amid elevated global crude oil prices.Birbhum: Consumers get petrol for their vehicles, at a fuel station in Birbhum, West Bengal, Wednesday, May 20, 2026.(PTI)Petrol and diesel prices across India remained unchanged on Friday following the marginal increase announced earlier this week by oil marketing companies. Petrol and diesel rates in major cities have held steady since the latest revision.The latest round of revisions comes days after Prime Minister Narendra Modi raised concerns around fuel consumption during his austerity call speech in Hyderabad. Since then, the government has revised fuel prices twice. In cities including Kolkata, Chennai, Mumbai and Hyderabad, petrol prices continue to remain above the

₹100-per-litre mark.CityPricePrice ChangeNew Delhi ₹98.640.00Kolkata ₹109.66-0.04Mumbai ₹107.55-0.04Chennai ₹104.51-0.06Gurugram ₹99.510.00Noida ₹98.49-0.42Bengaluru ₹107.120.00Bhubaneswar ₹107.120.00Chandigarh ₹98.120.00Hyderabad ₹111.840.00Jaipur ₹108.81-0.59Lucknow ₹98.45+0.05Patna ₹109.89+0.02Thiruvananthapuram ₹111.710.00Petrol and diesel prices were raised by around 90 paise per litre on 19 May across several metros, including Delhi, Mumbai, Bengaluru and Kolkata. The move followed an earlier

₹3-per-litre hike on 15 May, the first major fuel price increase in more than four years.CityPricePrice ChangeNew Delhi ₹91.58+0.91Kolkata ₹96.07+0.94Mumbai ₹94.08+0.94Chennai ₹96.13+0.88Gurugram ₹92.01+1.07Noida ₹98.91+0.82Bengaluru ₹95.04+0.94Bhubaneswar ₹96.83+0.72Chandigarh ₹86.09+0.84Hyderabad ₹99.95+0.99Jaipur ₹93.81+0.91Lucknow ₹91.72+0.71Patna ₹96.11+1.14Thiruvananthapuram ₹100.59+1.21 ₹3-per-litre hike last weekBefore the

₹3-per-litre hike, petrol in Delhi was retailing at

₹94.77 per litre while diesel was priced at

₹87.67 per litre.According to Reuters, the recent fuel price hikes were aimed at partially offsetting losses suffered by public-sector fuel retailers due to elevated crude oil prices. The rise in domestic fuel prices has been linked to volatility in global crude oil markets amid geopolitical tensions in West Asia. Reuters reported Tuesday that Brent crude prices slipped 2.4% to $109.43 per barrel after US President Donald Trump paused a planned military strike against Iran, easing concerns over an immediate escalation in the region.However, crude oil prices remain significantly higher than levels seen earlier this year. Reuters had earlier reported that Brent crude climbed to two-week highs amid fears of supply disruptions linked to the Iran conflict and uncertainty around shipping movements through the Strait of Hormuz.Previous LiveMint reports, citing brokerage Emkay Global Financial Services, had said petrol and diesel prices could rise by another

₹18-20 per litre over the next three to six months if crude oil prices remain elevated.Get Latest real-time updatesStay updated with the latest Trending,

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Global Market Today: Asian stocks drop at open, Brent snaps advances

Stock Market Today: Stocks Slide as Tech Sell-Off Expands to Memory, Chips; SpaceX Bounces Off Record Low

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Sensex crashes 1,000 pts from day's high, Nifty near 23,800: Global sell-off among key factors behind fall

Stock Market Today: Stocks Slide as Tech Sell-Off Expands to Memory, Chips; SpaceX Bounces Off Record Low

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Sensex crashes 1,000 pts from day's high, Nifty near 23,800: Global sell-off among key factors behind fall

S&P 500 futures decline after tech sell-off drags down broad market index; South Korea's Kospi falls over 6%: Live updates

Investors expecting 15-20% returns may be disappointed: Rajeev Thakkar

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Petrol, diesel prices today, 22 May: Check fuel rates in Delhi, Mumbai, Bengaluru, Kolkata

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Stock Market Today: Stocks Slide as Tech Sell-Off Expands to Memory, Chips; SpaceX Bounces Off Record Low

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Sensex crashes 1,000 pts from day's high, Nifty near 23,800: Global sell-off among key factors behind fall

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Sensex crashes 1,000 pts from day's high, Nifty near 23,800: Global sell-off among key factors behind fall

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