The Nasdaq tumbled 4% on Thursday as semiconductor and memory stocks led the selloff. Broadcom was at the centre of the storm. Its shares dropped 12% after a disappointing revenue outlook wiped roughly $285 billion in market cap overnight. Options traders piled into puts following the gap-down. Open interest on near-term puts spiked across the June 18 expiry, showing a clear bearish tilt. AVGO carries just 1.1% short interest, so options are the primary vehicle for bearish bets.
South Korean tech stocks also fell sharply, down over 5%, as heavyweight chipmakers tracked Wall Street's AI-linked names lower.
The Federal Reserve rate-hike fears returned. Rising expectations of a Fed increase sent US bond yields sharply higher. That knocked growth stocks further and added pressure to the broader market. Bond investors are now betting on tighter conditions ahead.
NVDA director Mark Stevens filed $221M in share sales this week. The transactions covered 1 million shares sold at $218–$222 on June 2 and June 4. That is the largest US insider disposal filed this week. The stock has rallied hard over the past year, making the exit notable.
European stocks slid overall, but the defence sector bucked the trend. Ukraine ratified a $105 billion EU loan deal, sending defence names higher. Meanwhile, Dulux maker AkzoNobel soared after rejecting a $14.5 billion takeover bid. Bitcoin also tumbled today, heading for its biggest weekly loss since November 2022, after Strategy's latest sale unnerved crypto traders.
ORCL reports Q4 2026 on June 10. ADBE follows on June 11. Both will test whether AI spending is driving sustained demand.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
