S&P 500 and Nasdaq fall as chips sell off; yields rise after jobs report: Live updates
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Traders work on the floor at the New York Stock Exchange in New York City, U.S., June 3, 2026.
Brendan McDermid | Reuters
The S&P 500and Nasdaq Composite fell on Friday, bogged down by a sell-off in key chip stocks and rising Treasury yields following a much stronger-than-expected jobs report for May.
The broad market index slipped about 0.6%, while the tech-heavy Nasdaq dipped 1.1%. The Dow Jones Industrial Average traded around the flatline.
Shares in Broadcom were about 3% lower after tumbling more than 12% on Thursday. Marvell Technology dropped more than 6%, while Micron Technology was down around 5%.
The moves came after the Bureau of Labor Statistics reported Friday that nonfarm payrolls increased by 172,000 in May, well above the 80,000 jobs that economists polled by Dow Jones had expected to be added. The unemployment rate also held steady from April at 4.3%, in line with expectations.
Treasury yields moved higher following the report as expectations grew that the Federal Reserve could raise interest rates by the end of the year, per data from the CME FedWatch Tool. The 10-year yield jumped above 4.5%, while the 30-year yield advanced above 5%.
“It’s going to be a tough start for Kevin Warsh,” said Stephen Coltman, head of macro at 21shares. “With the inflation and employment data where they are now the debate is quickly moving on from ‘when will the Fed be able to cut’ to ‘why isn’t the Fed hiking?!’. If the Fed moves from a dovish bias to a hawkish bias that will be a difficult transition for the markets to digest, and would likely trigger a renewed bout of volatility across asset classes.”
On Thursday, the blue-chip Dow scored a fresh record close. The S&P 500 also saw gains, while the Nasdaq declined, weighed down by a rotation out of the technology sector.
“A lot of us would prefer a broadening of the market, and when we say that I think it’s no longer broadening away from Mag Seven, it’s really a broadening away from semi-cap equipment and hardware,” said Charles Kantor, senior portfolio manager at Neuberger Wealth, on CNBC’s “ Closing Bell: Overtime” on Thursday afternoon. “You had a little bit of that today, but the pipeline of demand for stuff related to building out compute and data centers from now even into 2030 is a powerful force.”
The S&P 500 is down less than 1% on the week, on track for its first negative week in 10. The 30-stock Dow is poised to end the week up 1%, while the Nasdaq Composite is heading for a nearly 2% loss.
— CNBC’s Jeff Cox and Garrett Downs contributed to this report.
8 Min Ago
S&P 500, Nasdaq fall on Friday
The S&P 500 and Nasdaq Composite traded lower on Friday morning.
The broad market index declined 0.6% shortly after the opening bell, while the tech-heavy Nasdaq fell 1.1%. The Dow Jones Industrial Average was near flat.
— Sean Conlon
55 Min Ago
U.S. economy adds 172,000 jobs
The U.S. economy added 172,000 jobs in May, far more than economists polled by Dow Jones expected at 80,000. The unemployment rate held steady at 4.3%, as expected.
— Fred Imbert
2 Hours Ago
Lululemon Athletica, Docusign and Broadcom among the stocks making moves before the bell
Jonathan Raa | Nurphoto | Getty Images
Check out the companies making the biggest moves premarket:
- Lululemon Athletica — Shares sank 13% after the athleisure company lowered its full-year earnings and revenue guidance, citing headwinds. The company’s current-quarter earnings and revenue guidance also came below what analysts were expecting, per LSEG.
- Docusign — The software stock slipped 4% after Docusign’s outlook failed to impress the Street. The company sees second-quarter revenue in a range of $865 million to $869 million, encompassing the LSEG consensus estimate of $866 million.
- Chip stocks — A slew of companies appeared set to fall again on Friday after tumbling on Thursday following Broadcom’s earnings report. Broadcom itself was off 1% again, after it fell 12.5% the day before. Advanced Micro Devices was off almost 3%, while Intel was down more than 2.5%. Arm slipped 5%. Nvidia fared better, only down 1%.
Read here for the full list.
— Davis Giangiulio
3 Hours Ago
Citi strategist still bullish despite ‘signs of growing exuberance’
Citi strategist Beata Manthey still sees a constrictive outlook for stocks even as signs of froth emerge.
“Global equities are near all-time highs, with signs of growing exuberance,” she wrote to clients. “exuberance. Valuations across several segments appear stretched, investor sentiment is turning increasingly optimistic, and the pickup in IPOs and broader equity issuance highlights strong demand for risk. None of this, on its own, signals an imminent downturn. History suggests that major peaks aren’t defined by a single trigger, but by a broad set of indicators all moving into more extreme territory at the same time.”
— Fred Imbert
4 Hours Ago
European tech slides as global sell-off spreads
European stock markets fell on Friday, with the pan-European Stoxx 600 last seen down 0.2%, while major bourses in London, Paris, Frankfurt and Milan all traded lower.
| Symbol | Company | Price | Change | %Change |
|---|---|---|---|---|
| .FCHI | CAC 40 Index | 8,265.07 | +20.78 | +0.25% |
| .FTMIB | FTSE MIB | 50,114.43 | -59.93 | -0.12% |
| .FTSE | FTSE 100 | 10,397.98 | +37.66 | +0.36% |
| .GDAXI | Germany DAX | 24,911.92 | -33.03 | -0.13% |
| .IBEX | IBEX 35 Idx | 18,415.40 | +139.40 | +0.76% |
| .STOXX | STOXX Europe 600 | 624.85 | +0.40 | +0.06% |
Most regional sectors were in the green, but technology and miners were the key outliers, sliding 2.1% and 2%, respectively, as the sell-off in U.S. chipmakers spread to European markets.
Dutch semiconductor mainstay ASML was last seen 3.8% lower, while German chipmaker Infineon Technology slumped more than 6% in morning trade.
— Hugh Leask
6 Hours Ago
South Korea leads losses in Asia markets as tech stocks slump
A woman walks past an electronic quotation board displaying the Nikkei 225 stock prices on the Tokyo Stock Exchange along a street in Tokyo on June 5, 2026.
Kazuhiro Nogi | AFP | Getty Images
South Korea stocks plunged Friday, leading losses in the region, as the slump in Wall Street tech names overnight spread into Asia, dragging benchmark indexes lower.
The Kospi ended Friday’s session 5.54% lower at 8,160.59. Index heavyweights Samsung Electronics and SK Hynix dropped 6.40% and 9.92%, respectively. The small-cap Kosdaq index fell 4.50%.
In a move that could pressure South Korea’s tech sector further, the country’s labor minister urged its biggest technology companies to distribute more of the gains from the AI-driven semiconductor boom with workers and suppliers, saying record profits risk exacerbating income inequality.
Japan’s benchmark Nikkei 225 fell 1.31% to 66,588.12.
Australia’s S&P/ASX 200 dropped 0.70% to 8,625.10.
Hong Kong’s Hang Seng index was down 1.11% in its last hour of trade, while mainland China’s CSI 300 dropped 1.79% to 4,816.92.
India’s Nifty 50 was marginally lower in choppy trade, while the BSE Sensex was flat as of 1:00 p.m. local time (3:30 a.m. ET)
—Justina Lee
12 Hours Ago
South Korea stocks fall 4% as tech heavyweights follow plunge in Wall Street’s AI-linked names
South Korea stocks plunged Friday, leading losses in the region, as the slump in Wall Street tech names overnight spread into Asia dragging benchmark indexes lower.
The Kospi was last down 4.11%, with heavyweights Samsung and SK Hynix dropping 6% and 8%, respectively, while the small-cap Kosdaq fell 2.41%.
Japan’s benchmark Nikkei 225 lost 1.1%.
Australia’s S&P/ASX 200 was 0.2% lower.
Hong Kong’s Hang Seng index was down 0.46%, while the CSI 300 declined 0.29%.
— Lee Ying Shan
15 Hours Ago
Trump said he would be ‘honored’ to meet Iran’s supreme leader ‘if it was to make a deal’
U.S. President Donald Trump speaks during a “Beautiful, Clean Coal” event in the Oval Office of the White House on June 4, 2026 in Washington, DC.
Kevin Dietsch | Getty Images
On Thursday, President Donald Trump said that he would be “honored” to meet Iranian Supreme Leader Ayatollah Mojtaba Khamenei “if it was to make a deal.”
“If we make a deal, it’s possible that I would meet,” he said. “I’d be okay with that.”
Trump added that he expects Khamenei to be a “professional.”
“In some circles, he has a very good reputation, actually,” the president said.
— Garrett Downs and Lisa Kailai Han
15 Hours Ago
Stocks making the biggest moves after the bell: Lululemon Athletica, ServiceTitan and more
The Lululemon logo can be seen on a store in Manhattan.
Sven Hoppe | Picture Alliance | Getty Images
These are the stocks moving the most in extended-hours trading:
- Lululemon Athletica — Shares sank 11% after the athleisure company lowered its full-year earnings and revenue guidance, citing headwinds.
- ServiceTitan — The software platform provider with a focus on contractors saw shares pop 13%. ServiceTitan raised its guidance for the full year and now sees adjusted income from operations in a range of $142 million to $147 million.
- Argan — The construction engineering company gained 12%. First-quarter results surpassed expectations, with Argan earning $3.24 per share on revenue of $291 million.
Read the full list of stocks moving here.
— Lisa Kailai Han
15 Hours Ago
S&P Dow Jones Indices stands pat on index eligibility rules
On Thursday, S&P Dow Jones Indices announced that it would make no changes to the eligibility criteria for adding stocks to the S&P 500, S&P MidCap 400 or S&P SmallCap 600.
As part of its decision, S&P Dow Jones Indices will continue to require initial public offerings to trade on an eligible exchange for at least 12 months before being considered or addition to an index. One of the proposed changes the firm was weighing included shortening this so-called IPO seasoning period to six months.
S&P Dow Jones Indices’ move followed a consultation with market participants on potential changes to the indexes’ methodologies.
Elon Musk’s SpaceX plans to go public at the Nasdaq next Friday, with a valuation of $1.77 trillion. With S&P Dow Jones Indices opting to keep its eligibility criteria the same, it could take SpaceX at least a year to join the S&P 500. In turn, this could result in dramatic variations between the broad market index’s returns versus those of other averages.
— Lisa Kailai Han
16 Hours Ago
S&P 500 futures open slightly lower
On Thursday night, S&P 500 futures opened marginally lower, or down less than 0.2%.
Shortly after 6 p.m. ET, Nasdaq 100 futures shed 0.3%. On the other hand, Dow futures were trading around the flatline.
— Lisa Kailai Han
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