U.S. Stock Market: Major Indexes Mixed at Open, Broadcom Plunges 14%

BlockBeats News, June 4th, according to Bitget data, at the opening of the US stock market, the Dow rose 1%, the S&P 500 fell 0.4%, and the Nasdaq fell 1%. Broadcom (AVGO) plummeted 14% after its earnings, causing its total market value to drop below $2 trillion due to lower-than-expected AI chip revenue guidance.

Chip stocks came under pressure and declined, with Micron Technology (MU.O) down 6.7%, Arm (ARM.O) down 7.3%, AMD (AMD.O) down 5.3%, Intel (INTC.O) down 3.4%, and NVIDIA (NVDA.O) down 0.5%.