S&P 500, Nasdaq slide at open as Broadcom revenue miss dents chip stocks

[NEW YORK] The S&P 500 and the Nasdaq dropped at the open on Thursday (Jun 4), as Broadcom’s revenue miss pressured chip stocks, while equity investors took a breather after a strong rally to record highs.

The Dow Jones Industrial Average rose 299 points, or 0.59 per cent, at the open to 50,986.1. The S&P 500 fell 37.1 points, or 0.49 per cent, at the open to 7,516.54​, while the Nasdaq Composite dropped 274.7 points, or 1.02 per cent, to 26,579.297 at the opening bell. REUTERS