S&P 500 Rises 1.1% June 18 on Iran Peace Deal and Chip Gains

The S&P 500 snapped a one-day slide on June 18, rising about 1.1% as a preliminary U.S.-Iran peace agreement sent crude oil to multi-month lows and eased inflation fears. The rebound followed the index’s 1.21% drop on June 17 amid megacap tech weakness and a jump in the VIX. Semiconductor names led the recovery after Intel surged on an Apple manufacturing tie-up, while the Nasdaq outperformed and the VIX eased. Earlier volatility included a sharp June 5 selloff, multiple chip-led rebounds, and mixed reactions to hot PPI data. Markets now turn to the FOMC meeting amid ongoing sector rotation.