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US Markets Slide Sharply
(MENAFN) The New York Stock Exchange ended the final trading session of the week with steep losses, as stronger-than-anticipated US employment figures strengthened expectations that the Federal Reserve could take a more hawkish approach to monetary policy.
The Dow Jones Industrial Average declined by 1.35%, shedding 695.15 points to close at 50,866.78.
The S&P 500 dropped 2.64%, losing 200.57 points to finish at 7,383.74, while the Nasdaq Composite fell sharply by 4.18%, or 1,121.53 points, ending at 25,709.43. The tech-heavy index registered its steepest one-day drop since April 2025.
The Volatility Index (VIX), commonly known as the market’s “fear index,” surged 39.68% to reach 21.51.
Markets moved lower as robust US labor data reduced hopes that the Federal Reserve would loosen monetary policy in the near term, while additional pressure came from aggressive selling in semiconductor shares.
Data released by the US Department of Labor showed that nonfarm payrolls rose by 172,000 in May, notably surpassing analysts’ forecasts.
Meanwhile, the unemployment rate held steady at 4.3%, matching expectations.
Revisions to earlier labor data also pointed upward, with March job growth revised from 185,000 to 214,000, and April’s figure adjusted from 115,000 to 179,000.
The Dow Jones Industrial Average declined by 1.35%, shedding 695.15 points to close at 50,866.78.
The S&P 500 dropped 2.64%, losing 200.57 points to finish at 7,383.74, while the Nasdaq Composite fell sharply by 4.18%, or 1,121.53 points, ending at 25,709.43. The tech-heavy index registered its steepest one-day drop since April 2025.
The Volatility Index (VIX), commonly known as the market’s “fear index,” surged 39.68% to reach 21.51.
Markets moved lower as robust US labor data reduced hopes that the Federal Reserve would loosen monetary policy in the near term, while additional pressure came from aggressive selling in semiconductor shares.
Data released by the US Department of Labor showed that nonfarm payrolls rose by 172,000 in May, notably surpassing analysts’ forecasts.
Meanwhile, the unemployment rate held steady at 4.3%, matching expectations.
Revisions to earlier labor data also pointed upward, with March job growth revised from 185,000 to 214,000, and April’s figure adjusted from 115,000 to 179,000.
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