Market Indexes Tumble at Midday as Treasury Yields Spike on Hot Employment Report
Source: Motley Fool
2026-06-05 14:40:02 ET
Good news is bad news again, and Wall Street is having one of those days.
A blowout jobs report landed Friday morning, and stocks responded by doing the opposite of what you might expect. The Nasdaq Composite (NASDAQINDEX: ^IXIC) index dropped nearly 3% by 1:18 p.m. ET, the S&P 500 (SNPINDEX: ^GSPC) fell 1.8%, and even the stodgy Dow Jones Industrial Average (DJINDICES: ^DJI) slipped 0.8%.
The technology sector bore the brunt of the damage, dropping 4.3%, while defensive sectors including consumer staples, healthcare, and utilities posted gains. 172,000 new jobs is the kind of economic strength that makes investors nervous.
Advanced Micro Devices Inc.
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