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US equities ease as investors rotate from tech into value sectors
US markets retreated as tech stocks led by Broadcom declined, while investors rotated into value sectors, pushing the Nasdaq lower and limiting broader market gains.
US stock markets declined on Friday as investors continued shifting away from technology stocks toward value-oriented sectors. The S&P 500 fell about 1 percent, while the Nasdaq Composite dropped more than 1.5 percent, weighed down by a sharp decline in Broadcom shares despite strong earnings guidance. The Dow Jones Industrial Average slipped modestly after hitting an intraday record earlier.