Nasdaq Composite on track for worst collapse since March due to chipmaker selloff
Investors sell off chipmaker shares for a second day due to weak sales outlook for Broadcom chips / Photo: X / NYSE
At trading on Friday, June 5, the index of shares of technology companies Nasdaq Composite collapsed by almost 2.4%. If such dynamics continue until the close, it will be the worst one-day drop since March 27, according to Dow Jones Market Data, writes MarketWatch.
To the collapse of the index led to a sell-off of shares of chipmakers: quotes Micron Technology fell by 7.3%, Intel - by 7.5%. Investors began to get rid of these securities on Thursday after Broadcom gave a weaker forecast for demand for its AI chips than the market expected. Its shares plunged more than 12% afterward. In trading on Friday, they were down 5.6%.
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