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Wall Street’s nine-week winning streak ended with a thud on 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 U.S. Federal Reserve.
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Stocks slumped after stronger-than-expected jobs data raised expectations that the Fed will keep interest rates elevated.
Chip selloff erases over $1 trillion in stock market value, dragging Nasdaq down by its largest one-day percentage loss since last year
U.S. stocks fall sharply after a strong jobs report fuels bets on a possible Fed interest rate hike
The S&P 500 sinks 2.6% for the biggest drop since October as tech stocks slump and investors worry about higher interest rates.
The Nasdaq plunged 4%, while the S&P 500 snapped its weekly win streak as investors repriced Fed bets
