U.S. Stocks End Friday Down
The Dow Jones Industrial Average shed 695.15 points, or 1.35 percent, to finish at 50,866.78. The S&P 500 suffered steeper losses, tumbling 200.57 points, or 2.64 percent, to close at 7,383.74. The technology-heavy Nasdaq bore the heaviest blow, plunging 1,121.53 points — a dramatic 4.18 percent collapse to 25,709.43 — marking its sharpest single-day decline since April 2025.
Investor anxiety surged in tandem with the selloff. The Volatility Index (VIX), widely regarded as Wall Street's "fear index," spiked 39.68 percent to 21.51, signaling a dramatic deterioration in market confidence.
The catalyst was unambiguous. Data released by the U.S. Department of Labor showed nonfarm payrolls expanded by 172,000 in May — a figure that significantly outpaced market expectations and effectively dimmed prospects for imminent monetary easing. The unemployment rate held steady at 4.3 percent, landing in line with forecasts. Prior months were also revised sharply upward: March's payroll gain was lifted from 185,000 to 214,000, while April's figure was revised dramatically higher from 115,000 to 179,000.
Although the labor market stops short of broad-based strength, its persistent resilience — combined with stubbornly elevated inflation — has meaningfully bolstered expectations that the Fed could raise interest rates before year-end.
Bond markets responded immediately to the data. The U.S. 10-year Treasury yield climbed above 4.5 percent, while the 30-year Treasury yield breached the psychologically significant 5 percent threshold. Cleveland Fed President Beth Hammack offered measured commentary on the figures, noting that the employment data confirmed the labor market remains largely in balance.
The session's carnage was amplified by a deepening rout in semiconductor stocks. Broadcom, which had already shed more than 12 percent Thursday, dropped a further 7.9 percent Friday. Marvell Technology cratered 16.7 percent, while Micron Technology fell 13.3 percent. Nvidia declined 6.2 percent, Advanced Micro Devices (AMD) tumbled 10.9 percent, and Intel surrendered 11.3 percent.
Geopolitical headwinds added to the pressure. Analysts noted that the absence of any meaningful diplomatic breakthrough in Middle East peace efforts continued to erode investor risk appetite, compounding an already bruising end to the trading week.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
