Tech Rout Drags US Stocks Sharply Lower

Tech Rout Drags US Stocks Sharply Lower

US stocks fell sharply on Friday as a steep selloff in semiconductor shares rattled markets.

The Nasdaq dropped more than 4%, marking its worst session since April 2025, while the S&P 500 lost 2.6%.

The Dow Jones declined 1.4% after reaching a record high the previous day.

Chipmakers led the retreat, with Broadcom falling more than 7% following a double-digit decline on Thursday.

Marvell Technology and Micron Technology plunged about 12% and 11%, respectively, while Intel and AMD lost more than 9% and 10%.

The weakness came after stronger-than-expected jobs data showed the US economy added 172,000 positions in May, far exceeding forecasts.

The report pushed Treasury yields higher, with the 10-year yield rising above 4.5% and the 30-year yield topping 5%, fueling concerns that elevated borrowing costs could weigh on economic growth and investment.

For the week, the S&P 500 fell more than 2%, while the Nasdaq lost around 4%.

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