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Broadcom’s weak guidance triggered a chip stock sell-off, becoming the most important market event in the U.S. as investors reassessed the sector’s near-term outlook.

Broadcom’s weaker guidance sent shares down, but some analysts now see the pullback as a chance to buy.
JPMorgan changed its view on Tesla by removing its sell rating after staying bearish for years.
Deutsche Bank said Robinhood’s prediction market could become a meaningful boost for the stock.
Several analyst calls this week focused on major names like Nvidia, Apple, Tesla, Chipotle, Disney, and Robinhood.
JPMorgan said a struggling fast-casual stock may finally be worth buying on the dip.
A drug company tied to an “EpiPen” for heart attacks may be undervalued because the market has not fully priced in its potential.
A confirmed screwworm case in Texas pushed two biotech stocks higher on hopes of related demand or attention.
Broadcom’s chip sell-off raised concern that it could signal a broader downturn in semiconductor stocks.
Commentary on SpaceX and its possible IPO was cautious, with one analyst warning against “Musk Mania” and another saying the valuation may be too high.
Major macro themes include AI spending, oil and gas supply risks, debt concerns, strong jobs data, and ongoing market speculation about gold, silver, Bitcoin, and Fed policy.

Hong Kong stocks fell sharply, with the Hang Seng Index dropping 291 points to lose the 25,000 level as weak chip shares dragged the market lower.

Hong Kong’s new Red Hill Phase 4 project includes 264 units, with two-bedroom flats making up 89% of the supply.
Tencent spent about HK$500 million to repurchase 1.092 million shares, showing continued buyback support.
Market rumors say Jollibee may consider listing its international business in Hong Kong instead of another venue.
Anthropic is reportedly helping the U.S. National Security Agency with cyberattack-related deployment.
Macquarie downgraded Tingyi to “Neutral” and cut earnings forecasts, lowering its target price to HK$11.9.
Foxconn’s May revenue rose nearly 40% year on year, reaching the highest May level on record.
UBS’s Peng Yanyan expects China’s consumer recovery to remain K-shaped and thinks the market underestimates re-inflation potential.
Hong Kong home price and rent indicators moved in opposite directions, with the CCL index rising while the rental index softened.
The government will not implement the proposed “two-dollar, 20% off” monthly 240-ride cap plan.
Hong Kong stocks fell sharply, with the Hang Seng Index dropping 291 points and losing the 25,000 level, while SMIC and Hua Hong fell more than 7%.

Japan’s stock market fell sharply as the Nikkei extended losses on profit-taking and caution over record highs, with semiconductor shares leading the decline.

Prime Minister plans to respond without increasing total government bond issuance to maintain market trust in the proposed FY2026 supplementary budget.
Tokyo stocks fell sharply for a second straight session, with selling centered on semiconductors amid caution after recent record highs.
Japan’s foreign reserves may have dropped as much as 5.6% to about 209 trillion yen at the end of May, likely due to currency intervention.
The Nikkei briefly plunged more than 1,600 points, falling below the 66,000-yen level before partially recovering by the midday close.
Yen trading opened near 160 per dollar in Tokyo, while safe-haven dollar buying rose on concerns about the conflict between the U.S. and Iran.
In New York, the yen also hovered around 160, with a slightly stronger dollar-selling, yen-buying trend after Israel and Lebanon agreed to resume a ceasefire.
The government is considering a food consumption tax cut with support for restaurants and farmers to offset concerns about lower sales, with the prime minister pledging support.
PayPay is set to acquire a T&D-affiliated life insurer for about 130 billion yen as part of a move to broaden its insurance offerings.
Yamada Denki and Edion are moving toward an alliance, bringing together the industry’s top and fifth-ranked electronics retailers.
Other major domestic developments include rising milk production forecasts, a possible transfer of Kishu Railway, and Toyota’s weak China sales, reflecting mixed conditions across Japan’s industrial and consumer sectors.

Bitcoin slumped to around $60,000—its weakest level since October 2024—as stronger-than-expected U.S. jobs data and broader crypto weakness fueled a sharp market selloff.

Bitcoin has fallen below $60,000, hitting its weakest level since October 2024 and extending the crypto market’s recent slump.
Strong U.S. job growth raised expectations for tighter Federal Reserve policy, adding pressure to risk assets like crypto.
The broader crypto market is having its worst week since July 2024, with Bitcoin and Ether nearing key support levels.
XRP has dropped toward $1.10, slipping to multi-month lows amid liquidation-driven selling.
Zcash has plunged sharply as bearish bets hit record highs and a privacy-related bug worsened investor confidence.
Arthur Hayes sold his Zcash holdings after an Orchard Pool vulnerability was disclosed, adding to negative sentiment.
Bitcoin sentiment appears extremely polarized, with bullishness tending to peak near market tops and bearishness near recent lows.
The CoinDesk 20 index declined as Bitcoin fell 2.8%, showing weakness across major digital assets.
Political and regulatory tensions continue, as Alsobrooks says the Clarity Act needs an ethics deal before the Senate vote.
Market commentary is increasingly questioning whether the MicroStrategy-style corporate Bitcoin treasury strategy is breaking down after a large value wipeout.

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