The Nasdaq Composite endured a bruising session on Friday, 5th June 2026, tumbling more than 4% in its steepest single‑day decline since April 2025.
The sell‑off was triggered by a powerful combination of surging Treasury yields and a violent unwinding in semiconductor and mega‑cap technology stocks, following a far stronger‑than‑expected U.S. jobs report.
Employers added 172,000 jobs in May 2026, more than double economists’ forecasts, a result that swiftly erased hopes of near‑term Federal Reserve rate cuts and instead fuelled expectations of tighter policy for longer.
Chipmakers bore the brunt of the rout. Broadcom, Nvidia, Micron, Marvell and AMD all suffered heavy losses, with the sector’s slump wiping out well over a trillion dollars in market value across the week.
The Nasdaq closed at 25,709.43, down around 4.18%, while the S&P 500 fell 2.6% and the Dow Jones Industrial Average dropped 695 points.
The broader risk‑off mood extended beyond equities. Bitcoin slid below $60,000 for the first time since 2024, while gold and silver also weakened as investors recalibrated expectations for monetary policy.
With Treasury yields climbing above 4.5%, markets ended the week facing renewed questions about valuations, positioning, and the durability of the two‑year AI‑driven rally.