AI-Related Stocks Decline Amid Market Shift Toward Defensive Sectors
On Friday, AI-related stocks fell sharply after Broadcom revised its 2026 and 2027 revenue outlook downward. The Nasdaq dropped about 3%, marking a significant decline for the tech-heavy index. Meanwhile, defensive sectors like consumer staples and utilities gained as traders anticipated potential rate hikes.
Topics: AI stocks sell-off defensive sectors Nasdaq decline rate hike expectations S&P 500