𝗨𝗦 𝗦𝘁𝗼𝗰𝗸 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝗙𝗮𝗹𝗹 𝗔𝘀 𝗧𝗲𝗰𝗵 𝗦𝘁𝗼𝗰𝗸𝘀 𝗦𝗹𝗶𝗱𝗲 𝗔𝗻𝗱 𝗝𝗼𝗯𝘀 𝗗𝗮𝘁𝗮 𝗗𝗶𝗺𝘀 𝗥𝗮𝘁𝗲-𝗖𝘂𝘁 𝗛𝗼𝗽𝗲𝘀
US stocks closed lower on Friday. Technology shares led the decline. A strong jobs report reduced expectations for Federal Reserve rate cuts this year.
Key US Index Moves:
- The S&P 500 fell 0.7%
- The Dow Jones Industrial Average dropped 81 points, or 0.2%
- The Nasdaq Composite sank 1.4%
- Nvidia and Broadcom posted heavy losses
The Labor Department reported employers added 172,000 jobs in May. This number was roughly double economist forecasts. The data pushed bond yields higher. It also weakened hopes for near-term monetary easing.
Big technology stocks dragged the broader market down. Nvidia and Broadcom led the losses.
Trading had been mixed earlier in the day. Investors waited for the jobs report. They wanted clues on whether the Iran conflict and rapid artificial intelligence adoption were affecting corporate hiring.
Some analysts fear AI will eliminate entry-level jobs. Others argue its impact has been gradual. They say it has reduced hiring instead of causing widespread layoffs.
Hiring has stayed strong despite economic uncertainty. Energy prices remain high due to the ongoing Iran conflict.
Higher oil prices have raised concerns about inflation and growth. Businesses face rising operating costs.
Oil Market Update:
- Benchmark US crude traded near $93 per barrel
- Brent crude hovered near $95 per barrel
- Both prices remain well above the roughly $70 level seen before the conflict began in late February
The Strait of Hormuz remains effectively closed. This route carries global oil and natural gas shipments. The closure raises concerns about energy supplies and inflation.
US and Iranian negotiators reached a tentative ceasefire extension last week. The deal has not been finalized. Developments in Lebanon have also cast uncertainty over prospects for a lasting settlement.
European markets traded higher:
- Britain's FTSE 100 rose 0.5%
- Germany's DAX gained 0.2%
- France's CAC 40 advanced 0.6%
Aziatische markten daalden grotendeels:
- De Zuid-Koreaanse Kospi kelderde met 5,5% naar 8.160,59
- SK Hynix daalde met 9,9%
- Samsung Electronics verloor 6,4%
- De Japanse Nikkei 225 zakte met 1,3% naar 66.588,12
- Tokyo Electron daalde met 6,6%
- De Hang Seng in Hong Kong daalde met 1,2%
- De Shanghai Composite Index verloor 0,7%
- De Australische S&P/ASX 200 daalde met 0,7%
- De Taiwanese Taiex daalde met 1,3%
- De Indiase Sensex daalde met 0,3%