Stocks Tumble on Tech Stock Weakness and Higher Bond Yields

Market Overview - Stock indexes are experiencing declines, with the Dow Jones Industrials retreating from an all-time high and the Nasdaq 100 dropping to a 1.5-week low. The S&P 500 Index is down by -0.86%, the Dow Jones Industrials Index is down by -0.39%, and the Nasdaq 100 Index is down by -1.85% [4] - Broadcom's stock has fallen more than -10% due to a disappointing sales outlook and lack of an AI revenue forecast for 2026, leading to a broader sell-off in tech stocks [3][11] - Investor rotation from tech stocks to industrial stocks is providing some support to the Dow Jones Industrial Average [3] Earnings Reports - Q3 corporate earnings season is nearly complete, with 496 of the 500 S&P companies having reported results. 83% of these companies exceeded forecasts, marking the best quarter since 2021. Q3 earnings rose by +14.6%, significantly surpassing expectations of +7.2% year-over-year [5] - Lululemon Athletica reported Q3 EPS of $2.59, exceeding the consensus of $2.22, and raised its 2026 EPS forecast to a range of $12.92-$13.02, above the consensus of $12.89 [15] - Quanex Building Products reported Q4 adjusted EPS of 83 cents, well above the consensus of 52 cents, resulting in a stock increase of more than +16% [14] Sector Performance - AI-linked power stocks are under pressure following Broadcom's disappointing sales outlook, with Vertiv Holdings down more than -6% and GE Vernova down more than -4% [12] - Other semiconductor stocks are also declining, with Micron Technology down more than -5% and Lam Research down more than -4% [11] International Markets - Overseas stock markets are showing positive movement, with the Euro Stoxx 50 rising to a 4-week high, up +0.05%, and Japan's Nikkei Stock 225 closing up +1.37% [6]