Finance

The Nasdaq Composite struggled to keep pace with the broader market, ending slightly lower after a sharp sell-off in semiconductor stocks. Broadcom shares plummeted over 12% following quarterly guidance that failed to meet lofty market expectations for AI-driven revenue, dragging down other industry leaders like Nvidia, AMD, and Micron.

Digital assets experienced a sharp downturn as Bitcoin momentarily plunged below $62,000, its lowest level since early 2026. The flash crash triggered nearly $1.8 billion in total liquidations across the crypto market, with Ethereum also falling below the critical $1,800 threshold amidst rising geopolitical tensions and institutional outflows.

Pressure on the equity markets eased as the 10-year Treasury yield dipped to approximately 4.45%, down from previous highs. Concurrently, crude oil prices fell nearly 3% toward $93 per barrel, providing a tailwind for value stocks and consumer-sensitive sectors despite ongoing concerns regarding persistent inflation.