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Updated · Bloomberg · Jun 18S&P 500 Drops 2.6% as Tech Selloff and Rate-Hike Bets End 9-Week Run
3 articles · Updated · Bloomberg · Jun 18Summary
- The S&P 500 fell 2.6%, failing to notch a 10th straight weekly gain as Wall Street’s rally stalled sharply.
- A solid jobs report pushed bond yields higher and revived bets that the Federal Reserve’s next move will be a rate hike, pressuring equities.
- Tech led the retreat: the Nasdaq 100 sank about 5%—its biggest drop since April 2025—as investors recoiled from stretched AI valuations.
- Chipmakers were hit even harder, with a semiconductor gauge tumbling 10%, underscoring how the year’s market leaders drove the broader reversal.
Insights
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