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Nasdaq plunges 1,100 points over renewed rate hike concerns
Yahoo Finance Video114d agobearishVIDEO
Nasdaq plunges 1,100 points over renewed rate hike concerns

US stocks (^DJI, ^IXIC, ^GSPC) sink in Friday trading, the Nasdaq Composite leading losses and closing over 1,100 points lower (4.18%). The market is reacting to May's overwhelmingly positive labor data — 172,000 jobs added the US economy vs. estimates of 88,000 — raising investor concerns that the Federal Reserve may be inclined to hike interest rates. Yahoo Finance Markets and Data Editor Jared Blikre breaks down the day's biggest market moves.

A Nasdaq Selloff Takes Hold. AI Stocks Are Getting Crushed.
Barrons.com115d agobearish
A Nasdaq Selloff Takes Hold. AI Stocks Are Getting Crushed.

The S&P 500, down 1.8%, was on track to snap a nine-week winning streak. The Dow fell 400 points, or 0.8%, but is still up slightly on the week. David Donabedian, senior investment strategist at CIBC Private Wealth, told Barron’s that the action this morning began as a continued rotation away from AI winners.

Jim Cramer Highlights Cisco Systems as the Top Dow Performer
Insider Monkey115d agoneutral
Jim Cramer Highlights Cisco Systems as the Top Dow Performer

Cisco Systems, Inc. (NASDAQ:CSCO) was among Jim Cramer’s stock calls on Mad Money, as he highlighted several opportunities in out-of-favor sectors. Cramer highlighted the stock’s performance during the episode, as he remarked: All sorts of old-fashioned respected tech stocks have caught fire here thanks to this AI data center boom. Take Cisco, the networking and […]