Nasdaq Hits Record High as Chip Stocks Rally; Oil Falls for Fifth Session

The Nasdaq Composite closed at a record high on Tuesday, Sept. 22, 2026, rising 0.45% to 27,244.28, as chip stocks extended gains and falling oil prices lent support. The Philadelphia Semiconductor Index jumped 2.06% to 12,689.82, its sixth straight advance. The Dow Jones Industrial Average fell 185.14 points, or 0.36%, to 51,863.69, pressured by a flattening Treasury yield curve. The S&P 500 was nearly flat at 7,764.64. Brent crude slid 1.09% to $99.25 a barrel and WTI dropped 1.24% to $94.59, both down a fifth consecutive session. Investors weighed Trump administration comments on U.S.-Iran talks and awaited a Washington meeting between Trump and Chinese President Xi Jinping, with AI, tariffs and rare earths in focus. Richmond Fed President Barkin warned inflation may take time to subside, while Boston Fed President Collins backed last week's rate hike. The 10-year Treasury yield eased to about 4.959%.