🗞️ THE DAILY INDEX - 8th June 2026

Broadcom's decision not to raise its AI chip revenue guidance for the full year — on a day when the market had priced in a beat-and-raise quarter — triggered one of the most violent single-day selloffs in the technology sector since early 2025, wiping roughly a trillion dollars from AI-related equities and dragging the Nasdaq down 4.2%, its steepest fall in over a year. The S&P 500, the index tracking America's 500 largest public companies, dropped 2.6%, and volatility — as measured by the VIX, Wall Street's fear gauge — spiked nearly 40% in a single session. That was the primary force pulling the DBI sharply lower, to 42.1. But the day didn't arrive in isolation: a US jobs report that more than doubled expectations has simultaneously pushed the Federal Reserve further away from cutting rates, oil remains above $93 a barrel with the Strait of Hormuz still effectively closed, and the Gulf conflict continues to produce a steady rhythm of strikes that never quite escalates but never quite resolves.