Broadcom Drag Weighs on Nasdaq Even as Broad Market Rallies
TL;DR
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.
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