By George Glover and Kit Norton

Stocks fell Wednesday after the consumer price index for May accelerated to 4.2% in May, matching expectations, the selloff in artificial intelligence and other momentum stocks continued, and President Donald Trump said Iran was taking too long to negotiate a peace deal and will "have to pay the price."

Super Micro Computer tumbled 14%, making it the S&P 500's worst performer. The server maker said it planned to raise $7 billion from a stock sale to help it fulfill a recent flurry of orders. That's a timely reminder for investors that the AI boom has been driving up costs, as well as sales.

Chip maker Advanced Micro Devices fell 1.9% while Intel rose 0.4%.

Memory-chip manufacturer Micron Technology declined 3.3%, and hard disk-drive maker Western Digital fell 4.4%.

Nvidia dropped 1%. The chip maker can't avoid the semiconductor sector's woes but its impressive cash returns mean it could eventually find a floor as a value stock.

These stocks also were making moves:

Newmont fell 2%, Barrick Mining declined 1.2%, and Agnico Eagle Mines dropped 1.5%. Gold stocks booked losses as precious metal prices slumped to the lowest levels of the year with investors dumping bullion amid renewed U.S.-Iran attacks and look elsewhere for protection against renewed inflation risks.

Robinhood Markets rose 6% to $88.71, leading the S&P 500 for the trading session. Goldman Sachs raised its Robinhood price target to $108 from $105 and kept a Buy rating on the shares. CEO Vlad Tenev announced Tuesday that Robinhood Securities, a broker-dealer and clearing unit, has been "approved" to serve as an underwriter. It isn't clear which regulatory body approved Robinhood, but Finra and the SEC oversee aspects of the initial public offering process.

Nike dropped 1.2% to $44.13. RBC Capital Markets downgraded Nike stock to Sector Perform from Outperform and lowered its price target to $50 from $70. Citi issued a similar warning for investors, reiterating a Neutral rating on the stock and slashing its price target to $47 from $53.

Cracker Barrel Old Country Store surged 31% after the restaurant chain reported a surprise profit for its fiscal third quarter and raised its fiscal-year outlook.

WhiteHawk Minerals rose 0.1% to $26.03. Shares made their debut on the New York Stock Exchange Tuesday, opening at $26, after the company raised $200 million in its initial public offering. The company owns mineral rights in some of the most prolific natural-gas basins in the U.S.

Tesla declined a fraction, after falling 3% on Tuesday, with Elon Musk's massive SpaceX initial public offering just around the corner. Investor demand is building, but with hours left to place orders, things could still be going better.

Oracle dropped 1.6%, taking a hit as the market fretted about AI. The software giant is scheduled to report its fourth-quarter earnings after Wednesday's closing bell.

Write to George Glover at george.glover@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

June 10, 2026 09:52 ET (13:52 GMT)

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