S&P 500 and Nasdaq 100 futures fell on Thursday, as Broadcom's revenue miss pressured chip stocks, while equity investors took a breather after a strong rally to record highs. Dow E-minis were up 204 points, or 0.4 per cent, S&P 500 E-minis were down 36.75 points, or 0.49 per cent, and Nasdaq 100 E-minis were down 369 points, or 1.2 per cent.
Broadcom shares slumped 13.5 per cent in premarket trading after the chipmaker also stuck to its long-range forecast of $100 billion in sales from its AI chips. The stock, which has climbed nearly 55 per cent this quarter, could shave off over $270 billion in market value, if losses sustain through the session.
