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The Economic Times
The Economic Times
Business

US stocks today: S&P 500, Nasdaq slides as chip stocks fall, jobs data fuels hawkish Fed fears

Wall Street's major indexes fell on Friday, as chipmakers ​lost steam following a sharp rally, while a stronger-than-expected monthly jobs report raised expectations of a hawkish monetary policy.

Nonfarm payrolls rose by 172,000 jobs in May after increasing 115,000 in April. The numbers were also much higher than the 85,000 forecast by a Reuters survey of economists.

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