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Closing Bell

Closing Bell: Navigating the Tech Sell-Off 6/5/26

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 5 June 2026

⏱️ 46 minutes

🧾️ Download transcript

Summary

What does today’s weakness in tech say about the market’s potential next move? We discuss with Hightower’s Stephanie Link, Fundstrat’s Tom Lee and Wharton School Professor Jeremy Siegel. Plus, we break down what to watch from Apple’s upcoming Worldwide Developers Conference with Alex Kantrowitz from Big Technology and Wedbush’s Dan Ives. And, we tell you what’s behind crypto’s ugly week.

Transcript

Click on a timestamp to play from that location

0:00.0

All right, guys, thanks so much. Welcome to closing bell. I'm Scott Wapner, live from Post 9,

0:04.8

here at the New York Stock Exchange. This maker breakout begins with what else, the tech sell-off,

0:09.7

and what it might say about the market's potential next move. We'll ask our experts over this

0:15.1

final stretch, including the Wharton School's Jeremy Siegel, Fund Stratt, Tom Lee,

0:24.1

High Towers, Stephanie Link, all joining me momentarily.

0:27.6

There's the scorecard with 60 to go now in regulation.

0:32.8

Big selling in chips again has led the NASDAQ to its worst date since last October.

0:38.2

All of the big recent winners, they are down substantially, especially from the chip space.

0:42.0

AMD's down more than 10 percent, microns down nearly 12.

0:45.5

Broadcom has been a big loser on the backside of its earnings.

0:46.7

Did it start this whole thing?

0:49.1

We'll investigate further elsewhere.

0:53.4

Well, there's green in the most defensive areas of the market today, like health care and staples and

0:54.1

utilities. But let's get right after this market, this late day slide, especially for meta.

0:59.0

That's new news. At least a report that it too is considering now an equity raise to fund

1:05.5

its AI ambitions. Take a look at the stock. It's come off its worst levels. But nonetheless,

1:12.3

it is a new story and a negative one, at least for the price action in this market related to tech.

1:17.7

Let's bring in High Tower, Stephanie Link. She owns the stock. FundStrat's Tom Lee is with us as well.

1:23.6

Both are CNBC contributors, Steph. It's great to have you here.

1:27.0

Thanks.

1:27.2

We were walking to the set

1:29.1

and you stopped me and said i just sold some of my meta what are they thinking right they're

...

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