Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
U.S. stocks suffered a sharp decline on Friday, ending Wall Street’s impressive nine-week winning streak as technology and semiconductor shares experienced heavy selling pressure. The market downturn came after a stronger-than-expected May jobs report raised concerns that the Federal Reserve could maintain higher interest rates for longer, reducing hopes for near-term monetary easing.
The Nasdaq Composite recorded its largest one-day percentage drop since April 2025, while the S&P 500 and Dow Jones Industrial Average also posted significant losses. Technology stocks, which had driven much of the market’s recent gains, were hit hardest as investors took profits following months of strong performance.
The Philadelphia Semiconductor Index plunged more than 11%, marking its steepest daily decline since March 2020 and wiping out over $1 trillion in market value. Major chipmakers including Nvidia, Intel, AMD, Micron Technology, and Broadcom suffered substantial losses as traders reassessed valuations in response to changing interest-rate expectations.
According to the U.S. Labor Department, the economy added 172,000 jobs in May, far exceeding analyst forecasts. While the strong employment data highlighted the resilience of the U.S. economy, it also reduced expectations for Federal Reserve rate cuts. Market participants are increasingly considering the possibility of additional policy tightening later in the year.
Investor sentiment was further pressured by ongoing geopolitical tensions in the Middle East. Concerns surrounding Iran, Israel, and shipping activity through the Strait of Hormuz have increased fears that higher energy prices could contribute to renewed inflationary pressures worldwide.
The S&P 500 fell 2.64% to 7,383.74, while the Dow Jones Industrial Average dropped 695 points, or 1.35%, to 50,866.78. The Nasdaq Composite declined 4.18% to 25,709.43. Market volatility surged, with investors rotating away from high-growth technology stocks and into more defensive sectors.
Despite the sharp correction, many analysts remain optimistic about the long-term outlook for artificial intelligence, semiconductor companies, and the broader technology sector. Market experts suggest the selloff reflects profit-taking and positioning adjustments rather than a fundamental shift in the ongoing tech bull market.
