Wall Street ends sharply lower as chips slide, jobs data fuels rate hike fears

Wall Street ends sharply lower as chips slide, jobs data fuels rate hike fears

By Stephen Culp and Medha Singh

Fri June 5, 2026

The tech sector alone lost more than $1T in value today as all indexes plunged in a severe rout that hasn’t been seen in over a year. It was straight shot down the entire day with the Nasdaq losing over 1100 points and the S&P, which so very rarely reaches even a 100 point deficit did twice that today. The trigger was yet another case of very good news being taken as very bad news as today’s jobs report showed more than twice the number added than expected, thereby dousing hopes for a rate cut this year. Signs of a solid job market and resilient economy was, today anyway, not nearly as important as a rate cut.  

Dow claims record closing high, S&P 500 advances; chip selloff weighs on Nasdaq

Dow claims record closing high, S&P 500 advances; chip selloff weighs on Nasdaq

By Stephen Culp and Medha Singh

Thu June 4, 2026  

The Dow zoomed up big time wiping out yesterday’s losses by a considerable margin, mainly due to strong advances in healthcare and financials. The S&P also did well but the Nasdaq got slammed by a disappointing Broadcom report that sent the whole chip index down and had investors asking about AI, “Is this real? Are these valuations legitimate?” The index fell some 300 at open but recovered most of it by close.  

Wall Street ends lower as Middle East tensions escalate

Wall Street ends lower as Middle East tensions escalate

By Stephen Culp and Medha Singh

Wed June 3, 2026  

With the resumption of hostilities in Iran over the weekend, I would have thought that Monday and Tuesday would have been a short-sellers heaven. Instead, the market rose. It looks like it took three days for the war news to sink in as today there was a decisive rout all around with oil prices and inflation beckoning higher and higher and the opening of the Strait of Hormuz being critical to stemming the tide. Of course, this does not look like it’s happening soon. Inflation concerns caused a lot of profit-taking today even though fundamentals are strong, the job market looks solid and the services sector continues to expand.  

World stocks rally on AI optimism; jitters over Iran persist

World stocks rally on AI optimism; jitters over Iran persist

By Amanda Cooper and Chibuike Oguh

Tue June 1, 2026 8:38 PM EDTUpdated 1 hour ago  

The indexes edged slightly higher with continued AI fever as major companies continue to raise huge sums for AI expansion, Alphabet alone to the tune of some $80 billion. Job openings increased more than expected and that combined with yesterday’s data of increased factory activity lent more confidence to the stability and resilience of the economy. Of course, the real job numbers come on Friday. The jobs and factory data likely contributed to the big boost in the Dow.  

Wall St ends higher, boosted by tech gains, US-Iran peace hopes

Wall St ends higher, boosted by tech gains, US-Iran peace hopes

By Stephen Culp and Medha Singh

Mon June 1, 2026  

Nvidia today announced a revolutionary new AI chip that will go into personal computers and transform the entire PC market. With that news, there was a dramatic flight out of industrials and into tech with the Dow sinking almost 300 points by 11 a.m. but then recovering to close with a modest gain. Both the Nasdaq and S&P were on a consistent upward slope with the Nasdaq gaining some 220 by 2 pm before losing about half of that by close. Ditto for the S&P.  

Wall Street hits new closing highs on tech strength, Middle East deal hopes

Wall Street hits new closing highs on tech strength, Middle East deal hopes

By Saeed Azhar, Twesha Dikshit and Utkarsh Shetti

Fri May 29, 2026  

It was a choppy day for tech, up and down all day but still closing with modest gains, while the Dow reaped the benefit of exceptionally high volume suggesting more and more people were feeling good about coming into the market. The Dow was up all day and closed with a very nice 3-digit gain. But AI and really good Q1 earnings remain the major market drivers while Trump’s announcement that a final decision on Iran will be made today also brought hopes.  

S&P 500 and Nasdaq hit record closing highs as US and Iran agree to extend ceasefire

S&P 500 and Nasdaq hit record closing highs as US and Iran agree to extend ceasefire

By Saeed Azhar, Twesha Dikshit and Utkarsh Hathi

Thu May 28, 2026

There was bad news all around on the inflation front as PCE came in at a three-year high, mostly due to the Iran war, and GDP, for the first time in quite some time, was downwardly revised to 1.6% with expectations of more of the same in Q2. But the news of a tentative extension of the ceasefire (still to be approved by Trump) put all that on the backburner. Any good war news is good for tech since the oil supply and inflation so directly impact tech.