Stock Market Today, June 5: Strong Jobs Data Drives Broad Sell-Off at Midday
Key takeaways
- Broadcom (NASDAQ:AVGO)extended yesterday’s post-earnings declines.
- Strong jobs data triggered a broad stock sell-off today, with the tech-heavy Nasdaq taking the biggest hit.
- The reason markets fell on the report, which showed resilience in the labor market, is that it increased the likelihood of a Federal Reserve rate hike this year.
Emma Newbery, The Motley Fool Sat, June 6, 2026 at 12:25 AM GMT+7 2 min read AVGO ^IXIC NVDA ^GSPC ^DJI As of 12.20, the S&P 500 (SNPINDEX:^GSPC) had fallen 1.60% to 7,463.24, the Nasdaq Composite (NASDAQINDEX:^IXIC) slid 2.65% to 26,122.36, and the Dow Jones Industrial Average (DJINDICES:^DJI) slipped 0.74% to 51,182.31 as a hot jobs report drove a risk-off sentiment.
Artificial intelligence (AI) and chip bellwethers led declines this morning as Nvidia (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD), and Micron Technology (NASDAQ:MU), all dropped on fresh doubts around lofty valuations. Broadcom (NASDAQ:AVGO)extended yesterday’s post-earnings declines.
Strong jobs data triggered a broad stock sell-off today, with the tech-heavy Nasdaq taking the biggest hit. Payrolls increased by 172,000 in May — well above the expected 80,000 — and the unemployment rate remained steady at 4.3%.