Strong Nonfarm Payrolls Fuel Rate Hike Concerns, Dragging Down Tech Stocks and Crypto Markets

🔍 Key Insights

• 📊 Market Overview

• Following the significantly stronger-than-expected U.S. nonfarm payrolls report released on June 5, markets rapidly raised expectations for further Federal Reserve tightening this year. As a result, the U.S. Dollar Index climbed back above 100, gold posted its fourth consecutive weekly decline, and risk assets faced broad-based selling pressure. U.S. technology stocks led the downturn, with the S&P 500 falling 2.6% in a single session, the Nasdaq plunging more than 4%, and the Philadelphia Semiconductor Index tumbling 10%, wiping out over $1 trillion in market capitalization and marking its largest…