Stocks slipped on Wall Street Friday as big technology stocks lost ground and weighed down the broader market. Meanwhile, bond yields surged as a strong jobs report continued to dimmer expectations that the Federal Reserve will cut its benchmark interest rate this year. The S&P 500 fell 0.7%. The Dow Jones Industrial Average fell 81 points, or 0.2%. The Nasdaq composite fell 1.4%. Nvidia and Broadcom were among the heaviest weights on the market. The Labor Department reported that employers added 172,000 jobs in May, roughly double what forecasters had expected. Bond yields surged. Oil prices edged lower.
THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below.
Trading on Wall Street was mixed again early Friday as markets waited to comb through the latest U.S. jobs data for signs that the Iran war or AI are impacting companies' hiring.
