Virginia Businessvirginiabusiness.comWall Street ends sharply lower as chips slide, jobs data fuels rate hike fears (opens original article in a new tab)
Wall Street closed sharply lower as tech stocks, especially chips, dropped due to a strong jobs report fueling fears of continued interest rate hikes.
- Nasdaq posted largest one-day drop since April 2025
- U.S. economy added 172,000 jobs in May, raising rate hike concerns
- Chip stocks like Nvidia and Intel fell between 6.2% and 13.3%
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