Finance

Broadcom shares tumbled approximately 13-15% after the company maintained its long-term artificial intelligence chip revenue target rather than raising it to meet heightened investor expectations. This triggered a broader retreat across the semiconductor space, with companies like AMD, Marvell Technology, and Micron also experiencing notable declines.

Oil prices retreated on June 4 as Israel and Lebanon agreed to renew a ceasefire, easing geopolitical tensions that had previously driven crude toward the upper end of its recent range. This development provided a boost to industrial and defensive stocks within the Dow, contrasting with the volatility seen in the preceding sessions during heightened U.S.-Iran friction.

Bitcoin and Ethereum faced continued downward pressure, with Bitcoin trading near $64,000 as investors favored defensive equity positions over riskier digital assets. The cryptocurrency market has been hampered by significant outflows from spot ETFs and growing concerns that resilient economic data may necessitate higher interest rates for a longer duration.