United States
US equities retreated sharply during the week ending 26 June, with the Nasdaq (^IXIC) declining 3.32% to close at 25,297.62, while the S&P 500 (^GSPC) fell 1.59% to 7,354.02. The broad pullback spanned large-cap and small-cap segments, though with divergent strength: the Russell 2000 (^RUT) edged up 0.19% to 3,010.08, and the Dow Jones (^DJI) gained 0.32% to 51,876.11. The Nasdaq range of $25,014.96 to $26,561.12 reflected intra-week volatility, with the index retreating from early-week highs near 26,500.
Technology stocks bore the brunt of selling pressure. Coinbase (COIN) slumped 9.57% to $149.06, while Nvidia (NVDA) dropped 7.73% to $192.53 and Broadcom (AVGO) fell 6.91% to $365.02. Financial equities also underperformed: Goldman Sachs (GS) declined 7.84% to $1,019.61. Tesla (TSLA) retreated 6.26% to $379.71, completing a week of broad-based weakness across mega-cap holdings.
The S&P 500 oscillated between $7,294.18 and $7,530.01, ending the week near the lower end of its range. Defensive positioning appeared limited, with neither sector rotation nor earnings-driven rallies providing meaningful support. The combination of tech repricing and financial sector headwinds pointed to macro concerns rather than company-specific catalysts.
Italy
Italian equities mirrored US weakness, with the FTSE MIB (FTSEMIB.MI) sliding 2.90% to €51,265.00 during the week. The index traded between €50,944.00 and €52,877.00, unable to sustain early-week gains. Heavyweight industrial and automotive names drove losses: Stellantis (STLAM.MI) fell 11.16% to €5.02, while STMicroelectronics (STMMI.MI) declined 9.73% to €62.60.
Leonardo (LDO.MI) dropped 7.64% to €46.26, and Eni (ENI.MI) fell 6.30% to €20.22. The magnitude of Stellantis' weekly decline exceeded broader Italian market weakness by a substantial margin, suggesting sector-specific pressure on European automotive rather than standalone news flow.
Week ahead
US macro calendar and Italian economic data releases will set tone through early July. Earnings season continues alongside jobless claims and purchasing manager indices in the coming days.