local
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 Pearland
For Pearland residents, the mixed trading in Asian shares and uncertainty about the war in Iran may seem like a distant concern, but it has direct implications for the local economy. As a community within the Houston area, Pearland is closely tied to the energy industry, and any developments in the global oil market can have a ripple effect on local businesses and jobs. 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 Pearland's economy. Additionally, the expected report on inflation on Thursday will be closely watched by local consumers, who are already feeling the pinch of higher prices due to expensive oil. As the Federal Reserve considers hiking interest rates to combat inflation, Pearland residents may see the effects in their daily lives, from higher mortgage rates to increased costs for goods and services.
About this story
Original reporting by KPRC 2 / Click2Houston (NBC) . The Pearland 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 Pearland 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 Pearland selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The Pearland, or browse our daily briefing and topic hubs .
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