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u s stocks plunged chip sell off tech heavy nasdaq drop

U.S. stocks plunged Friday due to a sharp sell-off in chip stocks. The tech-heavy Nasdaq Composite dropped 4% for its worst drop since early 2025 tariff issues. The reason for the chip stocks drop wasn't clear. Some disappointment over Broadcom's weak AI chip forecast on Wednesday led to losses on Thursday. But Friday's sell-off was even worse. A rise in Treasury yields after a stronger-than-expected jobs report for May made things worse. The Nasdaq dropped 4.18% and closed at 25,709.43, its biggest fall since April 2025. The S&P 500 fell 2.64% to 7,383.74, and the Dow Jones lost 695.15 points, or 1.35%, ending at 50,866.78. The blue-chip index hit a record Thursday. $QQQ $SPY

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