#nasdaq Tech News.
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Warner Bros. Discovery stock fell 2.81% to $26.24 on Friday after reports of state antitrust lawsuits to block its Paramount Global acquisition. Multiple U.S. states are preparing to sue, led by California and New York. The company's trading volume reached 48.1 million shares, 122% above its three-month average. Regulatory uncertainty has introduced additional risk to the deal, which still requires U.S. and European approval.
The Nasdaq plummeted 4.2% Friday, its worst session in 14 months, due to rising bond yields and concerns about AI trade growth expectations. Chip stocks, including Broadcom, suffered losses after a stronger-than-expected May jobs report triggered the jump in yields. This makes it more expensive for AI companies to maintain their spending. The decline is a bloodbath for the chip sector, which underpins the AI economy.
Chip stocks declined sharply on Nasdaq amid a selloff in semiconductor shares. The Nasdaq Composite dropped significantly during the session. The decline reflected broader market volatility in technology sectors. The selloff occurred as trading activity surged on the Nasdaq exchange.
The Nasdaq index has fallen 4% as shares in chip and memory groups decline. Chip and memory stocks are experiencing significant losses. The decline is affecting the overall market performance. The Nasdaq index is experiencing a downturn.
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