Global Chip Stocks Slide After Broadcom Report as Kospi Drops 4.3%
Updated
Updated · CNBC · Jun 5
Global Chip Stocks Slide After Broadcom Report as Kospi Drops 4.3%
3 articles · Updated · CNBC · Jun 5
Summary
South Korea’s Kospi fell 4.3% in the sharpest move of a global chip sell-off, with Samsung Electronics down 4.3% and SK Hynix off 7.6%.
Broadcom’s downbeat earnings report triggered the retreat, pushing investors out of AI-linked names and into more defensive sectors after several days of strong tech gains.
U.S. trading showed the same split: the Dow rose 874.86 points, or 1.73%, to a record 51,561.93, while the Nasdaq slipped 0.09% and the S&P 500 gained 0.41%.
Europe was set for a mixed Friday open after the overnight rout, with the FTSE 100 seen up 0.1%, the Cac 40 up 0.3% and the Dax down 0.2%; Nokia had already dropped more than 6%.