Chip Sector Slumps Amid Earnings Disappointment and Geopolitical Tensions
The chip sector experienced a sharp decline following Broadcom's earnings miss and rising expectations of Federal Reserve rate hikes after strong May payrolls data. Global markets, including Asia and Europe, also fell due to the selloff in tech stocks and heightened geopolitical tensions between Iran and Israel.
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Topics: broadcom earnings fed rate expectations geopolitical tensions semiconductors stock market volatility