Markets Plummet

Tech megacaps Fed Jobs

Movers

Winners

none

Losers

TSLA391.00-6.56%
NVDA205.10-6.20%
META593.00-5.51%
QQQ705.06-4.80%
AMZN246.03-3.06%

Market Overview

The market experienced its worst day since October, with tech stocks leading the decline [1]. Tech giants such as NVDA and MSFT were among the biggest losers. The lack of a reacceleration of wage growth in recent months points to a labor market that is stable, but not hot [3].

Economic Indicators

The latest employment report showed that 172,000 jobs were added in May, more than double the projected addition of 85,000 jobs [4]. This report may lead to fears of Fed rate hikes, adding to worries about the AI boom [3].

Company News

Microsoft announced that it will have a useful quantum computer in three years [2]. Meanwhile, NVDA fell 6.2% and MSFT was also affected by the market decline [1].

Watch

Federal Reserve meeting tomorrow
Microsoft quantum computer development
NVDA stock performance

Sources

[1]Markets have worst day since October as tech stocks lead the way down, traders lose hope of rate cutfortune.com · 2026-06-05T23:10Z
[2]Microsoft Says It Will Have A Useful Quantum Computer In Three Yearsforbes.com · 2026-06-05T22:45Z
[3]Tech stocks lead market bloodbath as fears of Fed rate hikes add to worries about the AI boomfortune.com · 2026-06-05T22:33Z
[4]Employment Report: 172K Jobs Added In May, Higher Than ExpectedSeekingAlpha · 2026-06-05T19:45Z

analyst · Groq · llama-3.3-70b · archived snapshot