# The Nasdaq 100 slipped while the Dow Jones rallied more than 800 points.

*semiconductor, fintech · news · 2026-06-04 · Benzinga*

## Key points

- The Dow Jones surged over 800 points, driven by defensive and financial sector strength.
- A potential Israel-Lebanon ceasefire and hopes for broader Iran talks pushed crude oil down over 3%.
- Broadcom Inc. dropped nearly 15% as its AI-chip revenue outlook missed market expectations despite earnings beats.
- Micron Technology Inc. slumped over 6%, marking its worst session since late March.

The Nasdaq 100 slipped while the Dow Jones rallied more than 800 points on defensive and financial leadership, leaving the S&P 500 slightly above the flatline by midday. On the Middle East front, hopes that an Israel-Lebanon ceasefire could clear the path to a broader Iran deal pulled crude lower. West Texas Intermediate crude fell about 3.3% to roughly $92.87 a barrel, while Brent slid 2.8% to near $95.06. The retreat in energy prices offered relief to Treasuries even as traders kept one eye on Friday’s May payrolls report. The S&P 500 added 0.2% to 7,568.56, while the Dow Jones Industrial Average advanced 863 points, or 1.7%, to 51,550.63. The Nasdaq 100 fell 0.7% to 30,355.45, weighed down by the chip complex. Broadcom Inc. cratered nearly 15% despite topping estimates with adjusted earnings of $2.44 per share, as its AI-chip revenue outlook fell short of the market’s lofty expectations. Gold drew safe-haven and weaker-dollar support, rising 1.0% to about $4,477 an ounce. Bitcoin (CRYPTO: BTC) fell for the fifth straight session, down by 0.6%. The biggest cryptocurrency hit an intraday low at $61,310, marking the lowest levels since February 6, 2026. Thursday’s Performance In Major US Indices According to the Benzinga Pro platform: Chip Stocks Stumble, While Defensives Shine Micron Technology Inc. (NASDAQ:MU) slumped over 6% – the company’s worst session since late March. Thursday’s Russell 1000 Top Gainers Thursday’s Russell 1000 Top Losers

**Companies:** Broadcom Inc., Micron Technology Inc.
**Countries:** United States, Israel, Lebanon, Iran

[Read the full story on Benzinga](https://www.benzinga.com/markets/equities/26/06/53010252/stock-market-today-nasdaq-tech-stocks-drop-broadcom-bitcoin-falls)

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