{"id":821,"date":"2026-06-05T23:13:03","date_gmt":"2026-06-05T23:13:03","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=821"},"modified":"2026-06-05T23:13:03","modified_gmt":"2026-06-05T23:13:03","slug":"tech-stocks-lead-market-bloodbath-as-fears-of-fed-rate-hikes-add-to-worries-about-the-ai-fueled-chip-boom-petering-out","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=821","title":{"rendered":"Tech stocks lead market bloodbath as fears of Fed rate hikes add to worries about the AI-fueled chip boom petering out"},"content":{"rendered":"<div>\n<p>The Nasdaq sank 4%, suffering its worst selloff since April 2025\u2014during the height of President Donald Trump\u2019s tariff shock. The S&amp;P 500 lost 2.6%, and the Dow Jones Industrial Average fell 1.35%. <\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=819\">\u2018Human creativity is under fire\u2019 says\u00a0WPP<\/a><\/p>\n<p>Chipmakers Micron Technology, Intel, Cisco\u00a0and\u00a0Nvidia led the charge lower, while hyperscalers like Meta, which will reportedly plow billions more into AI, as well as Amazon and Microsoft suffered more modest declines. <\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>Trouble began when chip designer Broadcom gave disappointing guidance late Wednesday, when it reported quarterly earnings. That sparked a selloff on Thursday that got further stoked by Friday\u2019s strong jobs report.<\/p>\n<p>The Labor Department\u2019s monthly tally showed employers added a net 172,000 jobs last month, nearly double Wall Street forecasts. Prior months were also revised sharply higher, indicating the labor market was much more resilient than previously thought in the face of higher oil prices caused by the Iran war.<\/p>\n<p>With the employment picture looking steadier, the Fed is expected to focus more on fighting inflation, which has exceeded the central bank\u2019s 2% target for five years.<\/p>\n<p>Investors priced in a greater probability of tighter monetary policy, giving up on the prospect of additional rate cuts anytime soon.<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=817\">Putin is running out of money to wage war on Ukraine, and this Russian-occupied territory is running out of fuel as Kyiv smashes supply lines<\/a><\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>The yield on the 10-year Treasury jumped 5.5 basis points on Friday to 4.532%. That came despite a drop in oil prices, which had previously driven yields up.<\/p>\n<p>Still, some analysts on Wall Street held out some hope that the central bank would remain on hold and keep rates unchanged, rather than send them back up.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>Christopher Hodge, chief U.S. economist at institutional brokerage firm Natixis CIB Americas, said in a note that the bar to hike rates is still high, citing subdued wage gains, high productivity, and inflation expectations that remain anchored.<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>\u201cThe lack of a re-acceleration of wage growth in recent months points to a labor market that is stable, but not hot,\u201d he wrote. \u201cThis distinction matters. A jobs market that is faltering requires policymakers to consider coming to the rescue with cuts\u2014clearly not the case now. A job market that is thriving and increasingly tighter might require hikes\u2014but we don\u2019t think we are there yet either. Instead, this is a goldilocks labor market that is on firm footing, but without adding an inflationary impulse.\u201d<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=815\">The U.S. is still one of the world\u2019s biggest meat producers. So why are Americans paying so much for beef?<\/a><\/p>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;The lack of a reacceleration of wage growth in recent months points to a labor market that is stable, but not hot.&#8221;<\/p>\n","protected":false},"author":1,"featured_media":820,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[185],"tags":[],"class_list":["post-821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech-stocks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tech stocks lead market bloodbath as fears of Fed rate hikes add to worries about the AI-fueled chip boom petering out - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=821\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tech stocks lead market bloodbath as fears of Fed rate hikes add to worries about the AI-fueled chip boom petering out - 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