Wall Street closed mixed on June 4, 2026, with the Dow Jones Industrial Average hitting a record closing high while the Nasdaq Composite fell 1.02%. Broadcom’s shares plunged 14.4% after the semiconductor giant reported earnings and guidance that missed analyst expectations, dragging down technology stocks and limiting gains in the broader market, according to livemint.com.
At the opening bell, the Dow rose 299 points, or 0.59%, to 50,986.1, buoyed by healthcare and financial stocks. The S&P 500 declined 0.49% to 7,516.54, and the Nasdaq dropped 274.7 points to 26,579.3. Broadcom’s disappointing quarterly results and cautious outlook weighed heavily on the tech sector, with shares tumbling sharply. Patrick O’Hare of Briefing.com noted that Broadcom’s earnings fell short of the high expectations priced into the stock, triggering a rotation from leading tech stocks to more traditional blue-chip shares, per livemint.com.
The mixed market performance underscores investor caution amid a selloff in semiconductor stocks despite broader optimism fueled by progress toward ending the Iran war. The Dow’s record close contrasts with the Nasdaq’s losses, reflecting sector-specific pressures. Broadcom’s earnings miss highlights challenges in the chip industry, which has been a key driver of the AI-related market rally. The selloff in Broadcom shares contributed to the Nasdaq’s inability to sustain gains, as chipmakers broadly declined, according to livemint.com.
The Dow’s record closing high on June 4 marks a milestone for blue-chip stocks, while the Nasdaq’s decline illustrates the tech sector’s vulnerability to earnings disappointments. Broadcom’s 14.4% share drop was the largest single-day decline among major tech companies that day, emphasizing the impact of its earnings report on market sentiment, per livemint.com.