# Chip Selloff Erases Over $1 Trillion From Markets as Broadcom Miss and Hot Jobs Data Slam the Nasdaq

*2026-06-05 22:01 UTC · Business · 1 min read*

> A semiconductor rout led by a Broadcom earnings miss and a hot May jobs report wiped over $1 trillion from markets, dropping the Nasdaq about 4%.

Wall Street suffered a brutal session on June 5, 2026, as a semiconductor rout wiped more than $1 trillion in market value. The Philadelphia Semiconductor Index plunged about 8.5%, its worst day since the April 2025 tariff selloff, dragging the Nasdaq down roughly 4% and the S&P 500 down 2.3%.

The trigger was Broadcom, which fell 7.5% after its quarterly report showed demand for its custom AI chips underperforming expectations. The weakness rippled across the sector: Nvidia dropped about 6%, shedding more than $300 billion in market cap; Micron tumbled 11% for a $127 billion loss; Marvell shed 12%; and AMD lost 10.5%.

A stronger-than-expected May jobs report—172,000 new jobs versus forecasts near half that, with unemployment steady at 4.3%—added pressure by all but killing hopes of a near-term Fed rate cut. "Blindly buying the dip had been winning you money, but that ended today," said Dennis Dick, proprietary trader at Triple D Trading.

## Sources

- [finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/chip-selloff-erases-over-1-195406803.html)
- [thestreet.com](https://www.thestreet.com/stock-market-today/stock-market-today-dow-jones-sp-500-nasdaq-updates-june-05-2026)

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TechTools News · https://techtools.cz/tools/news/article/1779-chip-selloff-erases-over-1-trillion-from-markets-as-broadcom-miss-and-hot-jobs
Česká verze: https://techtools.cz/tools/news/clanek/1852-vyprodej-cipu-smazal-z-trhu-pres-bilion-dolaru-nasdaq-srazil-slaby-vysledek