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US500 Tumbles as Strong Jobs Data and Chip Sector Selloff Spark Rate Hike Fears

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The Story

News Summary

  • The S&P 500 fell 0.6% as a robust May jobs report fueled expectations of prolonged restrictive interest rates.
  • Meanwhile, a broader selloff in chipmakers, led by Broadcom's guidance miss, weighed heavily on tech-heavy indices, despite strength in defensive sectors and banks.
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US500 price history

7637.76 +12.11% over the displayed period

Advisor Snapshot

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