finance
Nasdaq Drops Over 4% on Stronger-Than-Expected May Jobs Report
U.S. stocks closed lower Friday as the Nasdaq Composite dropped over 4 percent. The S&P 500 also declined, while the CNN Money Fear and Greed index entered the Fear zone.
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U.S. stocks settled lower on Friday. The Nasdaq Composite fell more than 4 percent during the session, marking its worst day since April 2025. The S&P 500 dipped more than 2 percent for the week. 7 percent over the same five days.
The iShares Semiconductor ETF declined 10 percent on Friday. That marked its worst session since March 2020. Broadcom Inc. shares fell around 8 percent on Friday after dropping over 12 percent on Thursday.
The CNN Money Fear and Greed index moved into the Fear zone on Friday, reflecting a decline in overall market sentiment. U.S. economy added 172,000 nonfarm payrolls in May. That figure exceeded expectations of 85,000.
Payroll gains for March and April were revised higher.
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