Wall Street’s major indexes closed lower today, and investors left technology for other sectors as Broadcom and Oracle fueled concerns about an AI bubble and rising U.S. Treasury yields added pressure after some policymakers spoke out against easing monetary policy.

Treasury yields rose after a group of Federal Reserve officials who voted against the central bank’s interest rate cut this week voiced worries that inflation remains too high to warrant lower borrowing costs.

Broadcom shares tumbled after the chipmaker warned of slimmer future margins, causing renewed concerns about the profitability of surging AI investments. This was after a nearly 11% sell-off in Oracle on Thursday following the cloud software company’s weak financial forecast. Oracle shares added to losses today even aft

See Full Page