Finance

Tech-heavy indexes like the Nasdaq faced pressure after Broadcom's guidance for AI-related chip revenue failed to satisfy lofty market expectations, causing its shares to plunge by approximately 13%. This triggered a broader selloff in semiconductor firms, including Micron and AMD, as investors re-evaluated the near-term profitability of the artificial intelligence boom.

U.S. Treasury yields held steady on June 5, with the 10-year note trading near 4.47% as markets awaited critical May payroll figures. Meanwhile, the 30-year yield reached levels not seen since 2007, reflecting persistent inflation concerns fueled by energy price volatility related to geopolitical tensions in the Middle East.

Wall Street is preparing for the highly anticipated initial public offering of SpaceX, which is expected to debut on June 12 at a valuation nearing $1.8 trillion. If successful, the listing would likely become one of the top ten most valuable U.S. firms and could potentially challenge traditional index fund structures due to its massive scale.