Broadcom shares were sliding during the session, pressured by a downgrade from Rothschild & Co Redburn, which lowered its rating to neutral and cut its price target from $595 to $398. The analyst cited concerns regarding the company's significant exposure to AI startups like OpenAI and Anthropic, questioning the long-term financial sustainability of these customers. This negative sentiment was compounded by a broader semiconductor sector sell-off, as investors retreated from chip stocks following the leadership uncertainty surrounding Nvidia CEO Jensen Huang.