Overview
- The S&P 500 fell 1.1%, the Nasdaq lost 1.7% (398.69 points), and the Dow slipped 0.5% after early strength, according to closing data.
- Broadcom beat on earnings and revenue but dropped about 11% after tighter margin commentary triggered a sell-the-news reaction.
- Sympathy losses hit semiconductors and hardware, with Micron, Western Digital, AMD and Lam Research among notable decliners, while Oracle extended its slide on large AI data-centre spending plans.
- The 10-year Treasury yield rose to roughly 4.19%, pressuring high-valuation growth shares and reinforcing the shift toward value and defensives.
- For the week, the Dow rose about 1%, while the S&P 500 fell 0.6% and the Nasdaq declined 1.6%, leaving major indexes still up solidly year to date.