FXEmpire
04 Jun 2026, 12:34 UTC · 2h ago
Nasdaq 100 and S&P500: Tech Stocks Sink as Broadcom Miss Hits US Indices
FXEmpire
04 Jun 2026, 12:34 UTC · 2h ago
Story key points
4 claims · impact-rated
Broadcom shares plunged over 13% in premarket trading following a quarterly revenue miss. — A double-digit drop in a bellwether semiconductor stock directly triggers broad selling in the high-growth tech sector.
-0.80Major chip stocks including AMD, Intel, Micron, Arm, and Marvell are seeing significant premarket declines of 6-7% following Broadcom's results. — The synchronized drop across the semiconductor space suggests a systemic shakeout of the 'AI trade' rather than an isolated company issue.
-0.70Nasdaq 100 futures fell 1.1% as investors rotated out of technology stocks into defensive sectors. — Negative momentum in the Nasdaq reflects a shift in risk appetite away from growth and toward stability.
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The S&P 500 is trading lower for the week, creating the potential for a bearish weekly closing price reversal top. — A confirmed weekly reversal top often signals the beginning of a larger technical correction for the broader market.
Ticker attribution
Model heads
Shares plunged over 13% after quarterly revenue missed expectations.
Shares dropped approximately 6% amid the chip sector decline.
Shares tumbled as part of a broader semiconductor selloff triggered by Broadcom.
Shares dropped approximately 6% due to the semiconductor selloff.
Shares tumbled following the loss of confidence in the AI trade.
Shares dropped approximately 6% following Broadcom's revenue miss.
Shares are down roughly 7% as investors rotate out of tech.
Mentioned as looking positive in premarket trading.
Mentioned as looking positive in premarket trading.
Mentioned as looking positive in premarket trading.
Reported as falling in a previous trading session.
[mutual] Both are identified as chip giants competing in the semiconductor sector.
[mutual] Both are chip giants in the semiconductor and AI trade space.
[mutual] Both are chip giants in the semiconductor and AI trade space.
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Invezz
2h ago
