Stock Market Today: Nasdaq and Russell 2000 Sink Over 1% As Tech Slide Continues

Market Overview - U.S. markets are experiencing a decline, with 61.9% of issues falling and only 34.5% advancing, primarily driven by disappointing results from Broadcom (-10.5%) and a data center delay from Oracle (-4.4%) [1] - The Nasdaq is down 1.43%, Russell 2000 down 1.31%, S&P 500 down 0.92%, and Dow down 0.35% [1] Oracle's Performance - Oracle's shares have rebounded slightly, now down 3.4% after initial declines, with the Nasdaq down 1.2% following the news [2] - Concerns remain regarding Oracle's strategy, as over half of its outstanding performance obligations are tied to OpenAI, raising questions about its buildout strategy [3] - Oracle disputes claims of delays in data center projects for OpenAI, stating that timelines were "jointly agreed" and that there are "no delays" to meet contractual commitments [4] Broadcom's Impact - Broadcom's stock is down 10.9% following its earnings report, which beat expectations but failed to meet high investor expectations for AI-related revenue growth [11][20] - Despite strong results, the market's reaction indicates that merely meeting expectations is insufficient for stocks with premium valuations in the AI sector [20] Sector Performance - The technology sector is facing significant declines, with the Nasdaq down nearly 2% and other indices also showing losses [12][21] - AI-exposed stocks are particularly affected, with notable declines in Sandisk (-12.6%), Broadcom (-10.9%), and CoreWeave (-10.3%) [10] Notable Movers - WeShop Holdings has seen a significant increase of 23.4% due to its unique e-commerce model [6] - EV brands Polestar (+17.6%) and Rivian (+16.2%) are also performing well, driven by recent developments [7] - On the downside, Fermi Inc is down 35% after losing a major tenant, while Everus Construction and Astera Labs are also experiencing declines [9]