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Sharp drops in Big Tech companies pull indexes mostly lower on Wall Street
By Yuri Kageyama, Associated Press at KPRC 2 / Click2Houston (NBC)
· June 23, 2026
· 3 min read
Wall Street gave up more of its recent gains Tuesday after a sell-off in big technology stocks spread from Asia back to the U.S. over worries about potentially higher interest rates by the end of the year.The S&P fell 1.4%. The benchmark index is coming off 11 weekly gains out of the last 12, led...
Key takeaway The Dow Jones Industrial Average, which is less influenced by tech stocks, gave up an early gain and closed just 0.
Why this matters in The Piney Point
For residents of Piney Point Village , the uncertainty surrounding the war in Iran and its impact on global markets may seem distant, but it has tangible effects on the local economy. As a major energy hub, Houston's economy is closely tied to the oil and gas industry, and fluctuations in oil prices can have a ripple effect on local businesses and employment. The potential reopening of the Strait of Hormuz and resumption of oil deliveries from the Persian Gulf could lead to increased economic activity in the region, benefiting local companies and workers. Additionally, the Federal Reserve's potential interest rate hike to combat inflation, driven in part by expensive oil, could influence mortgage rates and consumer spending in Piney Point Village, making it essential for residents to stay informed about these global developments and their local implications.
About this story
Original reporting by KPRC 2 / Click2Houston (NBC) . The Piney Point surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KPRC 2 / Click2Houston (NBC) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: June 23, 2026 ·
Source: KPRC 2 / Click2Houston (NBC) ·
Reading time: 3 min
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Frequently asked about this story
What is this story about? Wall Street gave up more of its recent gains Tuesday after a sell-off in big technology stocks spread from Asia back to the U.S. over worries about potentially higher interest rates by the end of the year.The S&P fell 1.4%. The benchmark index is coming off 11 weekly gains out of the last 12, led...
When was this published? This article was first published on June 23, 2026 by KPRC 2 / Click2Houston (NBC) and curated for The Piney Point readers.
Who reported this story? This story was reported by Yuri Kageyama, Associated Press at KPRC 2 / Click2Houston (NBC). To learn more about how The Piney Point selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The Piney Point, or browse our daily briefing and topic hubs .
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