Wall Street ends sharply lower as chips slide, jobs data fuels rate hike fears
A hotter-than-expected jobs report lifted bond yields and pushed traders to price in a higher chance of another Federal Reserve rate hike.
- On Friday, Wall Street stocks retreated as a stronger-than-expected May jobs report fueled concerns over potential interest rate hikes, with the S&P 500 falling 2.6%, its sharpest single-day decline since October.
- Labor Department data showed the U.S. added 172,000 jobs in May, significantly exceeding the 80,000 projected by economists, while the unemployment rate remained steady at 4.3%.
- Bond yields surged following the release, dimming hopes for Federal Reserve rate cuts this year, while economists now estimate a 70% probability of interest rates rising in December.
- Technology bellwethers led the market downturn, with Nvidia falling 6.2% and Broadcom dropping 7.9% amid skepticism over high valuations, dragging the Nasdaq down 4.2% on Friday.
- Despite Friday's losses, the S&P 500 remains up 7.9% for the year, though the Dow Jones Industrial Average suffered its first losing week in the last 10.
83 Articles
83 Articles
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 …
Wall Street panics as stock markets crash deep into the red despite the excellent May jobs report
According to a report from the Daily Mail, major U.S. stock indices tumbled sharply on Friday, June 5, 2026, as investors reacted to robust employment figures that strengthened the case for the Federal Reserve to maintain or even raise interest rates. Markets opened with optimism following the release of the May jobs report, but sentiment […]
After Jobs Report, Stocks Post Worst Day Since October
The U.S. stock market had its worst day since October Friday as a sell-off in big technology companies weighed down the broader market and a strong jobs report boosted expectations that the Federal Reserve will be forced to hike interest rates at some point this year. The Dow fell...
The US stock market has been shaken by the cascade sales of technology shares on Friday and the end of the hopes of monetary easing of the Federal Reserve (Fed), while European markets have remained more cautious. ...
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