Tech Down as Traders Retreat From Magnificent Seven -- Tech Roundup

Dow Jones

06/04

Shares of technology companies fell as traders retreated from mega-cap firms driving the artificial-intelligence boom.

The Roundhill Magnificent Seven exchange-traded fund, a basket of the largest U.S. tech companies, fell by more than 1%, trimming its gains for the year to date to 4.5%.

Shares of Nvidia, which has been on a torrid run since a wobble during the early stages of the Iran war, fell by more than 3%.

Chinese search giant Baidu expects to list its chip unit in Hong Kong within this year, its finance chief said as he projected healthy revenue growth over the next few quarters, supported by AI income.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

June 03, 2026 18:31 ET (22:31 GMT)

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