Broadcom Inc. (AVGO) shares are experiencing a decline today as the broader market reacts to stronger-than-expected retail sales data, which has heightened concerns about potential interest rate decisions by the Federal Reserve. The retail sales figures have added pressure on tech stocks, including major chipmakers like Broadcom, as investors brace for the Fed's final interest rate decision of the year. This macroeconomic factor is contributing to the downward movement in Broadcom's stock, despite the company's recent positive performance and outlook.
As of 12:18 pm on Tuesday, Broadcom's stock is down 4.56% to $238.59, compared to its previous close of $250.00.