US stocks dip as strong jobs data fuels rate hike fears, tech and semiconductors hit hard ahead of key inflation reports.
US stock markets fell last week despite record highs, with tech and semiconductor shares dropping sharply after a strong May jobs report raised concerns about prolonged Federal Reserve rate hikes. The Nasdaq fell 4.68%, and semiconductor ETFs saw their worst day since 2020. Investors shifted to defensive sectors like consumer staples and healthcare. This week, markets focus on upcoming inflation data (CPI and PPI) to gauge if higher interest rates will persist, alongside earnings from major companies like Oracle and Adobe, which will indicate tech demand and AI spending trends.
US stock markets fell last week despite record highs, with tech and semiconductor shares dropping sharply after a strong May jobs report raised concerns about prolonged Federal Reserve rate hikes. The Nasdaq fell 4.68%, and semiconductor ETFs saw their worst day since 2020. Investors shifted to defensive sectors like consumer staples and healthcare. This week, markets focus on upcoming inflation data (CPI and PPI) to gauge if higher interest rates will persist, alongside earnings from major companies like Oracle and Adobe, which will indicate tech demand and AI spending trends.
What's Your Reaction?
:max_bytes(150000):strip_icc()/GettyImages-2187410260-5afe56694791404f99c253dd8d5abe6a.jpg?#)
