US stocks fall on the 5th, Nasdaq drops over 4% as semiconductor shares tumble
U.S. stocks fell on Friday, with the Dow Jones Industrial Average shedding 695.15 dollars to close at 50,866.78, reversing the previous session's gains. The May U.S. employment report showed non-farm payroll growth beat market forecasts, fueling expectations for Federal Reserve interest rate hikes as labor demand remained strong. In response, U.S. Treasury yields surged, triggering heavy selling pressure on chip stocks and dragging the Nasdaq Composite Index down by more than 4%.
Goldman Sachs Group
The Nasdaq Composite Index fell 1,121.53 points to 25,709.43, extending its losing streak to a third consecutive session. Advanced Micro Devices
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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