Broadcom Drag Weighs on Nasdaq Even as Broad Market Rallies

Broadcom fell about 4.7%, dragging the Nasdaq lower early in the session due to its index-heavy weight, while the Dow and S&P 500 advanced on gains in Moderna and Merck and a favorable rotation in tech led by Marvell’s deal with Google. Oil and Treasury yields rose, and safe-haven assets gold and Bitcoin also moved higher, signaling a mixed risk backdrop as the broader market climbed despite the Nasdaq’s weakness.