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Stock Market on June 5, 2026: Dow falls 695 points after U.S. jobs report; S&P 500 and Nasdaq end sharply lower to book biggest percentage drops since 2025 after big losses in tech sector; Treasury yields jump MarketWatchNasdaq, S&P 500 suffer worst day of year as AI stocks tumble and Fed rate-hike odds rise CNNAmazon, Microsoft fare better than most in tech stock sell-off spree The Seattle TimesNasdaq falls 4% and suffers worst day since April 2025 as traders flee chip stocks: Live updates CNBC
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The S&P 500 fell more than 2.6 percent on Friday, its worst one-day drop of the year and ending nine weeks of gains.
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Rising expectations of a Federal Reserve rate increase send US bond yields rising sharply
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Another big jobs report in May has swept aside the possibility of interest rate cuts anytime soon.
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U.S. employers added jobs for the third month in a row in May, while the unemployment rate held steady at 4.3%. But wage gains softened and likely failed to keep pace with rising prices.
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Central bank holds interest rates despite pressure on currency from foreign outflows and war in Iran
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Officials at the Federal Reserve have turned their focus to resurgent inflation.
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The unemployment rate held at 4.3 percent in April, according to a Labor Department report. But the effects of the Iran war are only beginning to emerge.
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