{"id":1118,"date":"2026-06-05T19:41:35","date_gmt":"2026-06-05T19:41:35","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=1118"},"modified":"2026-06-05T19:41:35","modified_gmt":"2026-06-05T19:41:35","slug":"wall-street-slumps-as-chips-slide-robust-jobs-data-stokes-fears-of-hawkish-fed","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=1118","title":{"rendered":"Wall Street slumps as chips slide, robust jobs data stokes fears of hawkish Fed"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<li>Companies<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>NEW YORK, June 5 (Reuters) &#8211; Wall Street tumbled on Friday as semiconductors extended their \u200bselloff while a robust employment report fueled fears of a hawkish policy pivot from the Federal Reserve.<\/div>\n<div>All three major U.S. stock indexes were \u200cin negative territory, with an 8.1% plunge in chips (.SOX)<svg><\/svg><span>, opens new tab<\/span>, their steepest daily plunge since the &#8220;Liberation Day&#8221; tariff rout, dragging the tech-laden Nasdaq down 3.1%, its largest one-day percentage drop since October 10.<\/div>\n<div>Over the last three days of selloffs, tech and chips have tumbled more than 7.5% and 9.1%, respectively.<\/div>\n<div>The S&amp;P 500 was poised to snap its nine-week run of Friday-to-Friday gains, its longest weekly winning streak \u200bsince one that ended in December 2023.<\/div>\n<div>The Nasdaq was also on course to log a weekly decline, but the blue-chip Dow was set for a nominal \u200bgain on the week.<\/div>\n<div>Tech shares (.SPLRCT)<svg><\/svg><span>, opens new tab<\/span> declined for a third straight session, falling 4.6%.<\/div>\n<div>The U.S. economy added 172,000 jobs in May, according to \u2060the Labor Department, more than double analyst expectations, while the unemployment rate held firm at 4.3%. The robust report was double-edged: it provided reassurance of U.S. economic health, \u200bbut all but killed any hopes of an interest rate cut from the Fed in the near future.<\/div>\n<div>&#8220;It\u2019s a good report, and it shows that the labor market has \u200bcertainly survived its latest slowdown, and it&#8217;s another reason to believe that the Fed&#8217;s next move will be a hike in interest rates,&#8221; said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.<\/div>\n<div>Financial markets are pricing in a 42.8% likelihood of a rate hike at the conclusion of the Fed&#8217;s December meeting, up from 38.2% on Thursday and 26.1% one month ago, \u200baccording to CME&#8217;s FedWatch tool.<\/div>\n<div>Fading hopes for a near-term resolution to the Middle East war and reopening the Strait of Hormuz are stirring fears that energy price pressures \u200bcould morph into wider, systemic inflation.<\/div>\n<div>Iran reaffirmed its support for Hezbollah and demanded that Israel withdraw its troops from southern Lebanon, further complicating efforts to secure a near-term peace deal that would include \u200cthe resumption \u2060of traffic through the crucial strait. U.S. President Donald Trump&#8217;s administration has negotiated three truces, and while fighting has been greatly reduced, the two sides continue to trade airstrikes.<\/div>\n<div>The CBOE Market Volatility Index (.VIX)<svg><\/svg><span>, opens new tab<\/span>, often dubbed the &#8220;fear index,&#8221; surged to a two-week high.<\/div>\n<div>The Dow Jones Industrial Average (.DJI)<svg><\/svg><span>, opens new tab<\/span> fell 439.25 points, or 0.85%, to 51,122.68, the S&amp;P 500 (.SPX)<svg><\/svg><span>, opens new tab<\/span> lost 138.07 points, or 1.82%, to 7,446.24 and the Nasdaq Composite (.IXIC)<svg><\/svg><span>, opens new tab<\/span> lost 823.61 points, or 3.07%, to 26,007.35.<\/div>\n<div>Among the 11 S&amp;P 500 sectors, tech was down the most, while consumer staples (.SPLRCS)<svg><\/svg><span>, opens new tab<\/span> led \u200bthe percentage gainers.<\/div>\n<div>Nvidia (NVDA.O)<svg><\/svg><span>, opens new tab<\/span>, the largest company by \u200bmarket value, lost 5.6%, while Intel (INTC.O)<svg><\/svg><span>, opens new tab<\/span>, \u2060Micron (MU.O)<svg><\/svg><span>, opens new tab<\/span>, AMD (AMD.O)<svg><\/svg><span>, opens new tab<\/span> and Broadcom (AVGO.O)<svg><\/svg><span>, opens new tab<\/span> slid between 6.8% and 10.5%.<\/div>\n<div>Lululemon Athletica (LULU.O)<svg><\/svg><span>, opens new tab<\/span> slumped 8% after the athletic apparel maker cut its annual profit forecast and projected second-quarter earnings well below Wall Street estimates.<\/div>\n<div>Cooper Companies (COO.O)<svg><\/svg><span>, opens new tab<\/span> rose 7.6% after the contact lens maker beat estimates for second-quarter results.<\/div>\n<div>Cryptocurrency firms \u200bCoinbase (COIN.O)<svg><\/svg><span>, opens new tab<\/span> and Strategy (MSTR.O)<svg><\/svg><span>, opens new tab<\/span> dropped 9.5% and 11.2% as bitcoin tumbled 4.8%.<\/div>\n<div>S&amp;P Global said it would not change the eligibility requirements for its \u200bmajor indices, which effectively \u2060rules out a swift entry for Elon Musk&#8217;s SpaceX to the benchmark S&amp;P 500 after it goes public in what would be the world&#8217;s biggest initial public offering.<\/div>\n<div>S&amp;P Dow Jones Indices will announce the results following its rebalancing after markets close. Chipmaker Marvell Technology (MRVL.O)<svg><\/svg><span>, opens new tab<\/span>, which boasts over $270 billion in valuation, is among the contenders to be added to the benchmark \u2060index.<\/div>\n<div>Declining issues outnumbered \u200badvancers by a 2.8-to-1 ratio on the NYSE. There were 108 new highs and 196 new lows \u200bon the NYSE.<\/div>\n<div>On the Nasdaq, 1,155 stocks rose and 3,548 fell as declining issues outnumbered advancers by a 3.07-to-1 ratio.<\/div>\n<div>The S&amp;P 500 posted 14 new 52-week highs and three new lows while the Nasdaq Composite \u200brecorded 76 new highs and 143 new lows.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1116\">\u2018We want our children back\u2019: Nigeria\u2019s kidnapping nightmare spreads south<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1107\">Why SpaceX faces a longer wait to join S&amp;P 500<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1105\">Iran declares support for Hezbollah with wider peace deal in doubt<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street tumbled on Friday as semiconductors extended their \u200bselloff while a robust employment report fueled fears of a hawkish policy pivot from the Federal Reserve.<\/p>\n","protected":false},"author":1,"featured_media":1117,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[127,74,54],"class_list":["post-1118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-employee-health","tag-medtech","tag-stocks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Wall Street slumps as chips slide, robust jobs data stokes fears of hawkish Fed - Reliable Moving Crews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reliablemovingcrews.com\/?p=1118\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wall Street slumps as chips slide, robust jobs data stokes fears of hawkish Fed - Reliable Moving Crews\" \/>\n<meta property=\"og:description\" content=\"Wall Street tumbled on Friday as semiconductors extended their \u200bselloff while a robust employment report fueled fears of a hawkish policy pivot from the Federal Reserve.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/reliablemovingcrews.com\/?p=1118\" \/>\n<meta property=\"og:site_name\" content=\"Reliable Moving Crews\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-05T19:41:35+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=1118#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=1118\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/#\\\/schema\\\/person\\\/34f02a869ba60b78ae3d994f205e0d24\"},\"headline\":\"Wall Street slumps as chips slide, robust jobs data stokes fears of hawkish Fed\",\"datePublished\":\"2026-06-05T19:41:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=1118\"},\"wordCount\":772,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=1118#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/reliablemovingcrews.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/9d0cefe5422d8a020c1784497d5a1ed1.avif\",\"keywords\":[\"Employee Health\",\"Medtech\",\"Stocks\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=1118#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=1118\",\"url\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=1118\",\"name\":\"Wall Street slumps as chips slide, robust jobs data stokes fears of hawkish Fed - Reliable Moving Crews\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=1118#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=1118#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/reliablemovingcrews.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/9d0cefe5422d8a020c1784497d5a1ed1.avif\",\"datePublished\":\"2026-06-05T19:41:35+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/#\\\/schema\\\/person\\\/34f02a869ba60b78ae3d994f205e0d24\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=1118#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=1118\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=1118#primaryimage\",\"url\":\"https:\\\/\\\/reliablemovingcrews.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/9d0cefe5422d8a020c1784497d5a1ed1.avif\",\"contentUrl\":\"https:\\\/\\\/reliablemovingcrews.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/9d0cefe5422d8a020c1784497d5a1ed1.avif\",\"width\":1920,\"height\":1005},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?p=1118#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/reliablemovingcrews.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Wall Street slumps as chips slide, robust jobs data stokes fears of hawkish Fed\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/#website\",\"url\":\"https:\\\/\\\/reliablemovingcrews.com\\\/\",\"name\":\"Reliable Moving Crews\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/reliablemovingcrews.com\\\/#\\\/schema\\\/person\\\/34f02a869ba60b78ae3d994f205e0d24\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\\\/\\\/reliablemovingcrews.com\"],\"url\":\"https:\\\/\\\/reliablemovingcrews.com\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Wall Street slumps as chips slide, robust jobs data stokes fears of hawkish Fed - Reliable Moving Crews","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/reliablemovingcrews.com\/?p=1118","og_locale":"en_US","og_type":"article","og_title":"Wall Street slumps as chips slide, robust jobs data stokes fears of hawkish Fed - Reliable Moving Crews","og_description":"Wall Street tumbled on Friday as semiconductors extended their \u200bselloff while a robust employment report fueled fears of a hawkish policy pivot from the Federal Reserve.","og_url":"https:\/\/reliablemovingcrews.com\/?p=1118","og_site_name":"Reliable Moving Crews","article_published_time":"2026-06-05T19:41:35+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/reliablemovingcrews.com\/?p=1118#article","isPartOf":{"@id":"https:\/\/reliablemovingcrews.com\/?p=1118"},"author":{"name":"admin","@id":"https:\/\/reliablemovingcrews.com\/#\/schema\/person\/34f02a869ba60b78ae3d994f205e0d24"},"headline":"Wall Street slumps as chips slide, robust jobs data stokes fears of hawkish Fed","datePublished":"2026-06-05T19:41:35+00:00","mainEntityOfPage":{"@id":"https:\/\/reliablemovingcrews.com\/?p=1118"},"wordCount":772,"commentCount":0,"image":{"@id":"https:\/\/reliablemovingcrews.com\/?p=1118#primaryimage"},"thumbnailUrl":"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/9d0cefe5422d8a020c1784497d5a1ed1.avif","keywords":["Employee Health","Medtech","Stocks"],"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/reliablemovingcrews.com\/?p=1118#respond"]}]},{"@type":"WebPage","@id":"https:\/\/reliablemovingcrews.com\/?p=1118","url":"https:\/\/reliablemovingcrews.com\/?p=1118","name":"Wall Street slumps as chips slide, robust jobs data stokes fears of hawkish Fed - Reliable Moving Crews","isPartOf":{"@id":"https:\/\/reliablemovingcrews.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/reliablemovingcrews.com\/?p=1118#primaryimage"},"image":{"@id":"https:\/\/reliablemovingcrews.com\/?p=1118#primaryimage"},"thumbnailUrl":"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/9d0cefe5422d8a020c1784497d5a1ed1.avif","datePublished":"2026-06-05T19:41:35+00:00","author":{"@id":"https:\/\/reliablemovingcrews.com\/#\/schema\/person\/34f02a869ba60b78ae3d994f205e0d24"},"breadcrumb":{"@id":"https:\/\/reliablemovingcrews.com\/?p=1118#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/reliablemovingcrews.com\/?p=1118"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/reliablemovingcrews.com\/?p=1118#primaryimage","url":"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/9d0cefe5422d8a020c1784497d5a1ed1.avif","contentUrl":"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/9d0cefe5422d8a020c1784497d5a1ed1.avif","width":1920,"height":1005},{"@type":"BreadcrumbList","@id":"https:\/\/reliablemovingcrews.com\/?p=1118#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/reliablemovingcrews.com\/"},{"@type":"ListItem","position":2,"name":"Wall Street slumps as chips slide, robust jobs data stokes fears of hawkish Fed"}]},{"@type":"WebSite","@id":"https:\/\/reliablemovingcrews.com\/#website","url":"https:\/\/reliablemovingcrews.com\/","name":"Reliable Moving Crews","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/reliablemovingcrews.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/reliablemovingcrews.com\/#\/schema\/person\/34f02a869ba60b78ae3d994f205e0d24","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","caption":"admin"},"sameAs":["http:\/\/reliablemovingcrews.com"],"url":"https:\/\/reliablemovingcrews.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=\/wp\/v2\/posts\/1118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1118"}],"version-history":[{"count":0,"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=\/wp\/v2\/posts\/1118\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=\/wp\/v2\/media\/1117"}],"wp:attachment":[{"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/reliablemovingcrews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}