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Broadcom Q2 Earnings Miss Drags Nasdaq Futures Lower
Broadcom’s weak results triggered a 4.3% drop in South Korea’s Kospi and pulled chip and AI-linked stocks lower worldwide, traders said.
- Broadcom Inc. earnings report sparked a global sell-off in technology stocks on Friday as investors rotated away from artificial intelligence-linked names into defensive sectors.
- The sell-off gripped U.S. and Asian markets overnight as the downbeat report prompted a broader rotation away from high-growth technology names into safer holdings.
- Samsung Electronics dropped 4.3% and Hynix fell 7.6% in South Korea's chip-heavy market, while Nokia shares finished more than 6% lower in Europe.
- Thursday, the Dow Jones Industrial Average rallied 1.73% to a record close of 51,561.93, while the tech-heavy Nasdaq Composite underperformed during the session.
- The Motley Fool maintains a positive outlook on Broadcom and other major technology firms, seeing earnings upside despite the recent market volatility.
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Dow soars 900 points to all-time high on value stocks as tech shares lag
The Dow scaled an all-time high and the S&P 500 rose on Thursday, lifted by UnitedHealth and financials shares, while Broadcom's results fell short of high investor expectations, dragging down chip stocks and the Nasdaq.
·New York, United States
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US stock market today: Nasdaq, S&P 500 futures drop up to 1% amid tech sell-off; Brent retreats
US stock futures decline as technology rally halts on Broadcom's disappointing outlook, triggering broader sell-off. Ceasefire hopes boost Middle East negotiations, while SpaceX sets IPO at $135/share.
·New Delhi, India
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Coverage Details
Total News Sources18
Leaning Left2Leaning Right2Center3Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 29%
C 43%
R 28%
Factuality
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