<div id="readability-page-1" class="page"><p>Both the S&amp;P 500 (SPX) and the Nasdaq 100 (NDX) are in negative territory on Thursday, although the latter is facing a much bigger decline as tech stocks pull back.</p><h3>Claim 55% Off TipRanks</h3><ul><li>Unlock trusted, data-backed investing tools with TipRanks Premium, from analyst ratings and forecasts to breaking news and portfolio analysis.  </li><li>Discover high-conviction stock picks and new investing opportunities with the TipRanks Smart Investor Newsletter </li></ul> <p>Broadcom (AVGO) sparked a selloff in the semiconductor space after reporting first-quarter revenue of $22.19 billion, below the estimate of $22.27 billion. The company also maintained its full-year AI chip revenue guidance of $100 billion, disappointing some investors. The results sent AMD (AMD), Lam Research (LRCX), Qualcomm (QCOM), and Applied Materials (AMAT) lower.</p> <h2><strong>Jobless Claims Jump to Four-Month High</strong></h2> <p>Elsewhere, initial jobless claims for the week ended May 30 climbed 13,000 to 225,000, above the consensus estimate of 215,000 and marking the highest level since February 7. The uptick could be attributed to the end of the school year as layoffs in the education sector typically rise heading into the summer months.</p> <p>Finally, the House voted to approve the Iran war powers resolution, signaling growing support to end the U.S.-Iran war. The legislation requires congressional approval for U.S. armed forces in Iran, although the vote is largely symbolic due to President Trump's veto power.</p></div>

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<p>The S&P 500 and Nasdaq 100 declined on June 4, 2026, driven by a semiconductor selloff after Broadcom reported lower-than-expected Q1 revenue. Tech stocks like AMD and Qualcomm fell. Additionally, initial jobless claims rose to a four-month high of 225,000. In political news, the House approved an Iran war powers resolution, though it faces a likely presidential veto.</p>

- Both the S&P 500 and Nasdaq 100 are experiencing declines, with tech stocks significantly impacting the latter.  
- Broadcom's first-quarter revenue of $22.19 billion fell short of expectations, leading to declines in several semiconductor stocks, while jobless claims rose to a four-month high at 225,000, exceeding forecasts.  
- The House approved a resolution regarding U.S. military involvement in Iran, although the vote's impact is limited by the President's veto power.

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Why Is the Stock Market Down Today, 6/4/26?