U.S. Lifts Iran Oil Sanctions for 60 Days; S&P 500 Falls, SpaceX (SPCX) Plummets, Micron (MU) Surges

U.S. markets closed mixed on June 22, 2026, as progress in U.S.-Iran peace talks and a temporary lifting of oil sanctions for 60 days drove crude prices lower. The S&P 500 fell 0.37% to 7,472.79, and the Nasdaq Composite dropped 1.33% to 26,166.60, while the Dow Jones Industrial Average gained 0.29% to 51,712.71. Brent crude futures for August delivery fell 3.31% to $77.90 per barrel, and WTI crude for July delivery declined 2.32% to $74.82. This followed reports that U.S. and Iranian officials agreed to a 60-day roadmap for a final agreement, alongside the U.S. Treasury's approval of a 60-day resumption of Iranian oil sales. Investors now anticipate the May Personal Consumption Expenditures (PCE) price index, due June 25, 2026, a key inflation gauge for the Federal Reserve. Among individual stocks, SpaceX (SPCX-US) plummeted over 16% to $154.60, marking its worst day since listing, while Micron Technology (MU-US) surged nearly 7% to a record high of $1,211.38 ahead of its earnings report. Alphabet (GOOGL-US) fell over 5% on AI talent concerns, and Getty Images (GETY-US) soared over 90% after announcing an OpenAI partnership.