CNBC Business News Update - Market Midday: Stocks Turn Lower, Broadcom Leads Tech Decline, Homeowners Lose Equity 12/12/25

Episode Date: December 12, 2025

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored by CNBC's Jill Schneider. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jill Schneider, CNBC. Stocks have turned lower across the board, pulling back from record levels as traders continue to exit tech stocks and move into value areas of the market. The Dow is down 208 points, the S&P 500 lower by 70, and the NASDAQ is sharply lower, down 373 points more than a percent and a half. Broadcom is among the biggest drags on the NASDAQ and the S&P 500 down more than 10 percent, despite the fact. that the company posted better than expected fourth quarter results yesterday. Mizuho, senior semiconductor analyst Vijay Rakesh, is still bullish on the stock. He has a buy rating on Broadcom, and he's boosting his price target on shares. This is a stock that's growing their AI revenues, 10025% into next year, 1026.

And they are also growing earnings 45% plus year on year. So this is still where the growth is. They are still the big suppliers to Google on their entire hardware. stack to meta, to anthropic, and even open the eye coming down the road. Home values have been losing ground for much of this year with previously huge annual gains shrinking to nothing. The result is that homeowners are losing equity. Barrower equity fell 2.1% in the third quarter of this year compared with the same period a year ago. That according to a new report from totality. Consumers are still eating out, but instead of higher

priced entrees, many are ordering more appetizers. Appetizer orders. Appetizer orders up 20% year over year, according to new restaurant purchasing data from Buyer's Edge platform. That even as entree and dessert orders are largely flat or declining, as food inflation and affordability dominates the conversation. Jill Schneider, CNBC. The Consumer News and Business Channel, CNBC, we're happy we have your attention, and we promise to work hard to keep it. Thank you.