The Invesco QQQ Trust fell 0.7% on June 4 as semiconductor-focused stocks sank, with Broadcom plunging 13%, Micron and Arm each down about 5%, and the SMH ETF dropping 2.3%. Meanwhile, the Dow Jones climbed 1.7% and the S&P 500 rose 0.5% on cooling oil prices.
The Dow Jones Industrial Average jumped 1.7% to 51,561.93 and the S&P 500 gained 0.5% to 7,584.31 as oil prices cooled, alleviating some inflation concerns. The Nasdaq 100 underperformed, slipping 0.5% to 30,407.81 amid sector-specific headwinds.
Broadcom shares plunged roughly 13% after management refrained from raising AI revenue expectations for fiscal 2026 and 2027, while Micron and Arm Holdings both lost about 5%. The VanEck Semiconductor ETF (SMH) fell 2.3%, marking the largest drag on chip-linked benchmarks.
Invesco QQQ Trust ended the session down 0.7%, compared with a 0.2% rise in the SPDR S&P 500 ETF and a 1.6% gain in the SPDR Dow Jones Industrial Average ETF. Retail sentiment on QQQ remained bullish, but sharp chip-sector declines introduced near-term bearish pressure.
