Stock Market Today, June 16: Nvidia, Broadcom, and Micron Technology Lead Drop in Nasdaq

The Nasdaq dropped 1.15% on June 16 as semiconductor stocks sold off on profit-taking, with Nvidia, Broadcom, and Micron Technology leading declines. The S&P 500 fell 0.57%, while the Dow Jones gained 0.64% as capital rotated into industrials, transportation, and financials.

CoreWeave rallied nearly 10% following bullish analyst commentary, while Robinhood Markets declined after announcing layoffs. The Federal Reserve kicked off its first policy meeting under new Chair Kevin Warsh, setting up potential volatility around any rate guidance.

The session marked a clear divergence between chip-heavy growth and cyclical value, with the three major indexes moving in opposite directions. Nvidia, Broadcom, and Micron all closed lower as traders locked in gains following recent strength in semiconductors.