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How a Strong Jobs Report Triggered a 4.18% Nasdaq Plunge and Rate Hike Fears — Market Wrap Jun 6, 2026
Today's AI insights from 7horns.ai reveal a brutal market selloff driven by a surprisingly strong May jobs report that sparked fears of a Federal Reserve rate hike by December 2026. The Nasdaq Composite led the declines, tumbling 4.18% as investors dumped growth stocks amid rising Treasury yields. The S&P 500 fell 2.64%, its worst one-day drop since October 2025, while the Dow Jones declined 1.35%. The semiconductor sector was hit hardest, with the Philadelphia Semiconductor Index collapsing over 10%. Notable tech giants Nvidia and Tesla dropped 6.2% and 6.56% respectively, while Meta…
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