Global Stocks Slip as Chip Index Drops 5.3% and Brent Crude Falls to $72
Updated
Updated · Reuters · Jun 27
Global Stocks Slip as Chip Index Drops 5.3% and Brent Crude Falls to $72
3 articles · Updated · Reuters · Jun 27
Summary
MSCI’s world stock index fell 0.53% and headed for a 2% weekly loss as investors kept taking profits in technology shares, with the S&P 500 and Nasdaq also ending the week lower.
Chip stocks led the retreat: the Philadelphia SE Semiconductor index dropped 5.3% on the day and 7.7% for the week—its biggest weekly decline since March 2025—amid a broader rotation out of high-flying tech.
Brent crude tumbled 4.34% to $72 a barrel as supply fears eased, with more tankers leaving the Strait of Hormuz and Saudi Aramco resuming loading at Ras Tanura after a nearly four-month halt.
The yen hovered at 161.76 per dollar, near a 40-year low and beyond the 160 level seen as a trigger for possible Japanese intervention, while U.S. Treasury yields slipped and gold rose 1.06% to $4,068.72.