Dow Falls 620 Points After Broadcom’s After-Hours Move Shakes AI Stocks
Broadcom took a hit after the bell Wednesday, with shares sliding in after-hours trade as Wall Street pulled back from recent highs. Traders sold off one of the top artificial-intelligence names of the year as momentum across the broader market faded. After-hours trading on Nasdaq runs from 4 p.m. to 8 p.m. ET. Broadcom slipped to $413.62 in after-hours trade, down 13.69% from its $479.23 close. Reuters said Broadcom missed Wall Street’s second-quarter revenue target and kept its long-term AI-chip sales forecast steady. AI-linked chip stocks had been one of the last strong spots early, with oil and rate fears knocking most other sectors lower.