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stocksJun 4, 2026, 3:22 PM

Tech Stocks and Oil Drop as Broadcom Results Weigh on Nasdaq

Tech stocks and oil prices declined after Broadcom's disappointing results pushed the Nasdaq into negative territory for a second consecutive day.

NASDAQBROADCOM

Broadcom's latest earnings report triggered a sell-off in tech stocks, dragging the Nasdaq lower for a second straight session. The broader market also felt pressure as oil prices retreated.

Chris Beauchamp, Chief Market Analyst at online trading platform, noted that the weakness in tech weighed on sentiment. The decline in oil added to the risk-off mood, with both sectors giving back recent gains.

Source: FXStreet Forex News