Wall Street ends sharply lower as chips slide, jobs data fuels rate hike fears
A hot May jobs report and steep losses in Nvidia and other chipmakers drove the Nasdaq to its biggest one-day drop in about a year.
- Wall Street tumbled on Friday, June 5, 2026, as the S&P 500 snapped its nine-week winning streak and the Nasdaq Composite plunged 4.2%, marking its largest one-day percentage loss since last year.
- Labor Department data showed employers added 172,000 jobs in May, far exceeding the 80,000 estimate, which fueled concerns of a hawkish Federal Reserve policy shift and raised odds of interest rate hikes later this year.
- Semiconductor stocks led the sell-off, with Nvidia, Broadcom, Micron Technology, and AMD each posting sharp declines while erasing over $500 billion in combined market value; the VIX surged more than 34% to 21.
- Treasury yields spiked, with the 2-year note reaching a 15-month high and the 10-year yield rising to 4.54%, as investors rotated into defensive sectors amid market expectations for a December rate hike rising to 43%.
- Fed Chair Kevin Warsh faces a challenging balancing act between resilient economic data and persistent inflation pressures as he heads toward his first policy meeting, while market strategists remain divided on whether the downturn signals a fundamental shift or represents an overbought correction.
115 Articles
115 Articles
Wall Street ends lower as chips slide
NEW YORK — Wall Street's nine-week winning streak ended with a thud Friday, as red-hot technology stocks suffered their largest daily decline since April 2025 after a hot May jobs report fueled fears of a hawkish policy pivot from the…
Wall Street ends sharply lower, chips slide
NEW YORK — Wall Street's nine-week winning streak ended with a thud Friday, as red-hot technology stocks suffered their largest daily decline since April 2025 after a hot May jobs report fueled fears of a hawkish policy pivot from the…
Markets drop as chips slide, rate hike fears rise
NEW YORK — Wall Street's nine-week winning streak ended with a thud Friday, as red-hot technology stocks suffered their largest daily decline since April 2025 after a hot May jobs report fueled fears of a hawkish policy pivot from the…
Stock market disaster as S&P 500 and Nasdaq COLLAPSE amid AI bubble fears
Fears over an artificial intelligence (AI) stock market bubble continue to grow as the stock market experienced its worst day of the year.Wall Street suffered its most severe losses in months on Friday as investors fled risk assets following unexpectedly robust US employment figures.The S&P 500 tumbled 2.64 per cent, marking its steepest single-day decline since October and ending a nine-week winning streak.Technology shares bore the brunt of th…
Wall Street Slides As Strong Jobs Data Fuels Rate Hike Concerns
Wall Street ended sharply lower on Friday as stronger-than-expected U.S. employment data reignited concerns that the Federal Reserve may need to keep interest rates higher for longer, bringing an end to the market’s nine-week winning streak. The selloff was led by technology and semiconductor stocks, which suffered their steepest one-day decline of the year after the Labor Department reported that the economy added 172,000 jobs in May while the …
Coverage Details
Bias Distribution
- 53% of the sources are Center
![[your]NEWS](/_next/image?url=https%3A%2F%2Fgroundnews.b-cdn.net%2Finterests%2Ffb6dc495f74049f513563c33352175eaa0ecd509.jpg%3Fwidth%3D60&w=128&q=75)
Factuality
To view factuality data please Upgrade to Premium
