Finance

The tech-heavy Nasdaq Composite slipped slightly as major chipmakers faced downward pressure. Shares of Broadcom tumbled over 11% after providing a cautious 2026 artificial intelligence sales forecast, which negatively impacted other industry leaders like AMD and Micron Technology.

U.S. crude oil prices dropped roughly 3% on June 4, settling near $96 per barrel. This decline in energy costs, alongside a dip in Treasury yields, helped alleviate broader market pressure and contributed to the day's record-breaking performance for blue-chip stocks.

Central bank leaders issued warnings that interest rate increases may be necessary later in 2026 to combat persistent inflation, which has crept toward the 3.5% range. Market expectations for a rate hike by year-end have risen significantly as current policy appears less restrictive than previously thought.