Friday’s session saw a broad and sharp selloff across U.S. equity markets, driven by renewed concerns over monetary policy tightening following a strong May jobs report. The S&P 500 closed down 200.57 points, or 2.64%, at 7,383.74, marking its worst single-day decline of the year and snapping a nine-week winning streak. The Nasdaq Composite led the losses, plunging 1,121.53 points, or 4.18%, to 25,709.43, its steepest drop since April 2025, while the Dow Jones Industrial Average fell 695.15 points, or 1.35%, to 50,866.78. The uniform declines across all three major indices reflect a clear risk-off tone, with technology and semiconductor stocks hit hardest.

The primary catalyst was the robust labor data, which intensified market expectations for further Federal Reserve rate hikes, pushing Treasury yields higher. The selloff was particularly severe in the tech sector, where AI-related and chip stocks led the downturn—Nvidia, Broadcom, Micron, and Marvell were among the notable decliners. This weakness in semiconductors marked their worst day of 2026, contributing significantly to the Nasdaq’s underperformance. Rising bond yields and fading rate-cut hopes further pressured valuations, especially in growth-oriented segments. Bitcoin also retreated, falling below $60,000, underscoring broader risk-asset weakness. Overall, the session was defined by a repricing of interest rate expectations and a flight from high-duration assets.