📉 Wall Street Slumps Sharply After US Jobs Report, Nasdaq Drops Over 4%

🔻 Nasdaq experiences its biggest decline in over a year
* Nasdaq drops 1,121 points (-4.18%), closing at 25,709 points.
* This is one of the sharpest declines since 2025.
🔻 Dow Jones and S&P 500 also plunge
* Dow Jones falls 695 points (-1.35%) to 50,866 points.
* S&P 500 drops 200 points (-2.64%) to 7,383 points.
* The S&P 500’s 9-week winning streak officially ends.
🔻 Job data beats expectations, putting pressure on the market
* US adds 172,000 jobs in May.
* This figure is significantly higher than market forecasts.
* Investors worry the Fed will delay rate cuts or consider raising interest rates further.
🔻 Semiconductor sector sees heavy sell-off
* PHLX Semiconductor Index drops over 10%, the largest decline since March 2020.
* Nvidia falls more than 6%, wiping out over $300 billion in market capitalization.
* Broadcom declines nearly 8%.
* Intel and Micron drop 11%–13%.
* Marvell Technology plunges nearly 17%.
🔻 Major tech stocks all decline
* Tesla: -7%
* Meta: -6%
* Microsoft: -3%
* Amazon: -3%
* Alphabet: -1%
* Apple: -1%
🎯 Notable points
⚠️ The market is shifting from expectations of early Fed rate cuts to concerns over prolonged high interest rates, creating significant pressure on growth and tech stocks.
⚠️ The over 10% decline in the semiconductor index indicates strong profit-taking sentiment in the AI sector – which has led the market rally recently.
⚠️ For the crypto market, a high-interest-rate environment typically reduces investors’ risk appetite, potentially continuing to pressure Bitcoin and digital assets in the short term.
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