US-listed chipmakers shed roughly $1.3 trillion in market capitalization on June 5, 2026, in a selloff that dragged down risk assets including cryptocurrencies.
The PHLX Semiconductor Index fell 10.3%, its worst single-day drop since March 2020. The Nasdaq posted its largest decline since April 2025.
Broadcom reported $10.8 billion in Q2 AI semiconductor revenue, up 143% year-over-year, but its Q3 guidance of $16 billion fell short of market expectations. Broadcom shares dropped 6% to 8% amid the selloff.
Nvidia lost more than $300 billion in market value. Micron plunged 13%, while Marvell fell between 8% and 17%. AMD dropped roughly 8% to 11%, and Intel slid about 8%.
A hotter-than-expected jobs report raised fresh concerns about interest rate hikes, reducing the likelihood of near-term rate cuts.
Bitcoin and related equities declined alongside chip stocks. Around $130 billion exited the cryptocurrency market during the selloff. Coinbase and MicroStrategy both suffered significant losses.
The simultaneous institutional exit from both semiconductors and digital assets underscores the growing correlation between the two sectors during risk-off events.