# StrongNonfarmPayrollsRekindleRateHikeFear


Well, that’s not the kind of surprise anyone wanted. 😓

On June 5, the US reported May nonfarm payrolls surged by 172,000 – way above the expected 85,000 and a three-month high.

Good news for workers? Maybe. But markets saw red. 🚨

Why? Because stronger jobs = more fear of rate hikes. The chance of a Fed hike by year-end jumped from 48% to ~70% overnight.

The Nasdaq dropped over 4%, and the Philly Semiconductor Index? Down more than 10%. Ouch.

Macro pressure is real again. Buckle up.
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