2026.6.5 US Stock Market Brief
Strong non-farm payrolls trigger rate hike fears, AI hype cools down, and Nasdaq plunges over 4%; semiconductor index drops over 10%; gold erases its gains for the year; Bitcoin briefly falls below the $60,000 mark.
1. VIXY closes up 7.23%, reporting 24.31.
2. US stocks take a hit across the board. The S&P 500 index closes down 200.57 points, a drop of 2.64%, at 7383.74 points, with a cumulative weekly decline of 2.59%. The Dow Jones Industrial Average closes down 695.15 points, a drop of 1.35%, at 50866.78 points, with a cumulative weekly drop of 0.32%. The Nasdaq closes down 1121.526 points, a drop of 4.18%, at 25709.432 points, with a cumulative weekly drop of 4.68%.
3. M7 stocks are all in the red, with Tesla down 6.56%, Nvidia down 6.2%, META down 5.51%, Amazon down 3.06%, Microsoft down 2.66%, Apple down 1.25%, and Google-A down 0.98%.
4. The Philadelphia Semiconductor Index closes down 1396.735 points, a drop of 10.26%, with a cumulative weekly drop of 4.74%. Micron falls over 13%, TSMC ADR down 6.66%, and AMD down 10.86%.
5. The Nasdaq Golden Dragon China Index closes down 3.56%, at 6362.57 points, with a cumulative weekly drop of 3.40%. Among popular Chinese stocks, JinkoSolar drops 11.7%, Baidu down 9.7%, Pony.ai down 9.2%, and Huazhu rises 0.6%.
6. The cryptocurrency market is also hit hard. Bitcoin drops 4.4% to $60,757, marking the first time since October 2024 it falls below $60,000; Ethereum sees a cumulative drop of over 20% this week, with Solana experiencing similar losses.
Strong non-farm payrolls trigger rate hike fears, AI hype cools down, and Nasdaq plunges over 4%; semiconductor index drops over 10%; gold erases its gains for the year; Bitcoin briefly falls below the $60,000 mark.
1. VIXY closes up 7.23%, reporting 24.31.
2. US stocks take a hit across the board. The S&P 500 index closes down 200.57 points, a drop of 2.64%, at 7383.74 points, with a cumulative weekly decline of 2.59%. The Dow Jones Industrial Average closes down 695.15 points, a drop of 1.35%, at 50866.78 points, with a cumulative weekly drop of 0.32%. The Nasdaq closes down 1121.526 points, a drop of 4.18%, at 25709.432 points, with a cumulative weekly drop of 4.68%.
3. M7 stocks are all in the red, with Tesla down 6.56%, Nvidia down 6.2%, META down 5.51%, Amazon down 3.06%, Microsoft down 2.66%, Apple down 1.25%, and Google-A down 0.98%.
4. The Philadelphia Semiconductor Index closes down 1396.735 points, a drop of 10.26%, with a cumulative weekly drop of 4.74%. Micron falls over 13%, TSMC ADR down 6.66%, and AMD down 10.86%.
5. The Nasdaq Golden Dragon China Index closes down 3.56%, at 6362.57 points, with a cumulative weekly drop of 3.40%. Among popular Chinese stocks, JinkoSolar drops 11.7%, Baidu down 9.7%, Pony.ai down 9.2%, and Huazhu rises 0.6%.
6. The cryptocurrency market is also hit hard. Bitcoin drops 4.4% to $60,757, marking the first time since October 2024 it falls below $60,000; Ethereum sees a cumulative drop of over 20% this week, with Solana experiencing similar losses.