{"id":12462,"date":"2026-06-05T14:02:21","date_gmt":"2026-06-05T14:02:21","guid":{"rendered":"https:\/\/siliconvalleymovingpost.com\/?p=12462"},"modified":"2026-06-05T14:02:21","modified_gmt":"2026-06-05T14:02:21","slug":"stocks-slip-on-wall-street-big-tech-falls","status":"publish","type":"post","link":"https:\/\/siliconvalleymovingpost.com\/?p=12462","title":{"rendered":"Stocks slip on Wall Street big tech falls"},"content":{"rendered":"
\n

By CHAN HO-HIM and MATT OTT, AP Business Writers<\/strong><\/p>\n

Stocks slipped on Wall Street on Friday as big technology stocks lost ground and weighed down the broader market. Meanwhile, bond yields surged as a strong jobs report continued to dimmer expectations that the Federal Reserve will cut its benchmark interest rate this year. The S&P 500 fell 0.7%. The Dow Jones Industrial Average fell 81 points, or 0.2%. The Nasdaq composite fell 1.4%. Nvidia and Broadcom were among the heaviest weights on the market. The Labor Department reported that employers added 172,000 jobs in May, roughly double what forecasters had expected. Bond yields surged. Oil prices edged lower.<\/p>\n

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THIS IS A BREAKING NEWS UPDATE. AP\u2019s earlier story follows below.<\/strong><\/em><\/p>\n

Trading on Wall Street was mixed again early Friday as markets waited to comb through the latest U.S. jobs data for signs that the Iran war or AI are impacting companies\u2019 hiring.<\/p>\n

Futures for the S&P 500 lost 0.5% before the opening bell, while futures for the Dow Jones Industrial Average edged 0.1% higher, one day after hitting another all-time high. Nasdaq futures slumped 1% as AI stocks appeared poised to take a beating for the second straight day, though not enough to erase losses from earlier in the week.<\/p>\n

Analysts are forecasting that the U.S. economy added 105,000 jobs last month, a solid figure by the labor market\u2019s recent, diminished standards \u2014 but down from 115,000 in April.<\/p>\n

While some analysts fear that artificial intelligence will wipe out entry-level jobs, others argue that AI adoption has been more gradual than expected and has reduced hiring more than it has triggered layoffs.<\/p>\n

Hiring has bounced back this year from a miserable 2025, showing unexpected resilience in the face of economic uncertainty and painfully high energy prices caused by the Iran war.<\/p>\n

\n<\/div>\n

Higher oil prices raise the cost of just about everything and can make companies reluctant to hire, especially with no end to the Iran conflict in sight.<\/p>\n

The price for benchmark U.S. crude was unchanged from a day earlier at about $93 a barrel. It was the same story for Brent crude, the international standard, which was trading close to $95 per barrel. It was approximately $70 per barrel before the war began in late February.<\/p>\n

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Oil prices remain elevated because the Strait of Hormuz, a narrow waterway crucial for global oil and natural gas transport, remains effectively closed, and the war-caused energy shock is threatening to slow economic growth and fuel inflation in many countries.<\/p>\n

American and Iranian negotiators reached a tentative deal last week to extend their ceasefire, but the agreement has not been finalized, as developments in Lebanon have cast doubt on prospects for a permanent end to the conflict.<\/p>\n

\n<\/div>\n

Markets in Europe were broadly higher at midday with Britain\u2019s FTSE 100 gaining 0.5%, Germany\u2019s DAX up 0.2% and France\u2019s CAC 40 adding 0.6%.<\/p>\n

South Korea\u2019s Kospi sank 5.5% to 8,160.59. The index has roughly doubled in the past year, lifted by gains for big tech companies like SK Hynix, which lost 9.9%, and Samsung Electronics, which shed 6.4%.<\/p>\n

Japan\u2019s Nikkei 225 slipped 1.3% to 66,588.12, with technology shares leading the decline, even as official data showed that Japan\u2019s real wages rose for the fourth straight month. Chip equipment maker Tokyo Electron\u2019s shares fell 6.6%.<\/p>\n

Hong Kong\u2019s Hang Seng declined 1.2% to 24,961.95, while the Shanghai Composite index lost 0.7% to 4,027.74.<\/p>\n

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Australia\u2019s S&P\/ASX 200 fell 0.7% to 8,625.10.<\/p>\n

Taiwan\u2019s Taiex gave up 1.3%, while India\u2019s Sensex was down 0.3%.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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