This content was published on <\/p>\n
June 6, 2026 – 00:17\n<\/p>\n
(Bloomberg) \u2014 Wall Street\u2019s historic weekly run came to a halt, with stocks hit by a tech selloff and higher bond yields after a solid jobs report added to bets the Federal Reserve\u2019s next interest-rate move will be a hike.<\/p>\n
That repricing of the Fed outlook coincided with a swoon in the artificial-intelligence shares that had led a surge from this year\u2019s lows. Growing anxiety about valuations sent the S&P 500 down 2.6%, with the index failing to complete a 10th straight week of gains. The Nasdaq 100 sank about 5%, the most since April 2025. A gauge of chipmakers tumbled 10%.<\/p>\n
The concerted slide in stocks, bonds and crypto was the biggest setback in months for the latest leg of the bull market, which traces to the end of March when negotiations began in earnest to end the war in Iran. Concern has grown recently about the sustainability of an AI-fueled rally that had pushed the Philadelphia Semiconductor Index toward its best quarter ever.<\/p>\n
The tech selloff also followed an impressive earnings season for AI companies, with investors questioning whether growth rates have peaked, according to Mark Hackett at Nationwide.<\/p>\n
GLOBAL INSIGHT: AI in a Bubble? Here\u2019s What a Burst Looks Like<\/p>\n
\u201cWe find ourselves facing another strong pullback in tech,\u201d said veteran strategist Louis Navellier. \u201cIt appears to be a case of profit-taking in the semiconductors. Also hitting the market today are higher interest rates. It\u2019s due to very strong job data, lowering expectations for a Fed rate cut.\u201d<\/p>\n
While there was a lot to like in Friday\u2019s economic data, the figures came at a time when inflation risks are challenging the Fed. Treasury two-year yields jumped 12 basis points to 4.16%. Swaps are fully pricing in a rate increase by the end of 2026. The dollar rose. Bitcoin slumped.<\/p>\n
US job growth topped all forecasts in May and the unemployment rate held steady at 4.3%, offering the clearest sign yet that the labor market may be breaking out of a prolonged period of lackluster hiring.<\/p>\n
\u201cToday\u2019s upside surprise underscores ongoing economic resilience, but it will also likely keep the Fed \u2014 and the markets \u2014 focused on inflation pressures,\u201d said Ellen Zentner at Morgan Stanley Wealth Management.<\/p>\n
The market may be treating today\u2019s good economic news as bad news for equity prices, but this is a knee-jerk reaction as bond markets reprice the Fed path, according to Neil Dutta at Renaissance Macro Research.<\/p>\n
\u201cUltimately, if the Fed is hiking because of expanding employment, I would not necessarily assume it is bad for the stock-market outlook,\u201d Dutta said. \u201cStagflation is bad for stocks, an inflationary boom is not.\u201d<\/p>\n
Fed policymakers next meet June 16-17 under the leadership of new Chairman Kevin Warsh.<\/p>\n
\u201cIf Chair Warsh pushes for cuts at his first meeting, he will be pushing against the evidence,\u201d said Seema Shah at Principal Asset Management. \u201cOur base case remains that the Fed stays on hold through 2026, but if employment data continues to track around May\u2019s pace, rate hikes this year would come firmly into play.\u201d<\/p>\n
Corporate Highlights:<\/p>\n
President Donald Trump expressed interest in the US government holding equity stakes in leading artificial-intelligence developers, saying that he planned to discuss the idea of a partnership with AI companies\u2019 executives as soon as next week. Meta Platforms Inc. is considering a stock offering after Alphabet Inc.\u2019s successful $85 billion equity sale, according to the Financial Times. A quiet effort by Morgan Stanley to prevent retail investors from placing multiple orders for shares of SpaceX in the rocket company\u2019s massive initial public offering is facing pushback from some of the country\u2019s largest brokerages. Alphabet\u2019s Google has agreed to pay Elon Musk\u2019s SpaceX $920 million a month for computing power as part of a cloud services deal that runs through mid-2029, its second such agreement with an AI competitor in a matter of weeks. The top lawyers for several states are drafting a legal challenge to Paramount Skydance Corp.\u2019s $110 billion deal to buy Warner Bros. Discovery Inc., laying the groundwork for an antitrust suit over the Hollywood mega-deal. Some of the main moves in markets:<\/p>\n
Stocks<\/p>\n
The S&P 500 fell 2.6% as of 4 p.m. New York time The Nasdaq 100 fell 4.8% The Dow Jones Industrial Average fell 1.3% The MSCI World Index fell 2.3% Currencies<\/p>\n
The Bloomberg Dollar Spot Index rose 0.6% The euro fell 0.8% to $1.1518 The British pound fell 0.7% to $1.3331 The Japanese yen fell 0.1% to 160.23 per dollar Cryptocurrencies<\/p>\n
Bitcoin fell 4.4% to $60,757.81 Ether fell 11% to $1,579.86 Bonds<\/p>\n
The yield on 10-year Treasuries advanced seven basis points to 4.54% Germany\u2019s 10-year yield advanced two basis points to 3.04% Britain\u2019s 10-year yield was little changed at 4.90% Commodities<\/p>\n
West Texas Intermediate crude fell 2.9% to $90.38 a barrel Spot gold fell 3.6% to $4,313.58 an ounce \u00a92026 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"This content was published on June 6, 2026 – 00:17 (Bloomberg) \u2014 Wall Street\u2019s historic weekly run came…\n","protected":false},"author":2,"featured_media":285165,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[6144,42,43,6145,40,38,41,39],"class_list":["post-479621","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-business-general","tag-headlines","tag-news","tag-ticker","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/479621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=479621"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/479621\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/285165"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=479621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=479621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=479621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}