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Semis plunge as jobs data fuels Fed rate fears

6/6/2026

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Summary

Story summary

Intel shares fell to $99.17, down 11.4%, after announcing a Foxconn AI data-center partnership.
Nvidia dropped 6.2% to $205.10 as strong May jobs data raised Federal Reserve (Fed) rate-rise concerns.
Micron fell 13% to $864.01, erasing $150 billion, while the PHLX Semiconductor Index plunged 10.3%, wiping $1.3 trillion.
The Nasdaq and S&P 500 fell 4.18% and 2.64% after May payrolls rose 172,000 and unemployment held at 4.3%, stoking Fed worries.

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Story summary

Intel shares fell to $99.17, down 11.4%, after announcing a Foxconn AI data-center partnership.
Nvidia dropped 6.2% to $205.10 as strong May jobs data raised Federal Reserve (Fed) rate-rise concerns.
Micron fell 13% to $864.01, erasing $150 billion, while the PHLX Semiconductor Index plunged 10.3%, wiping $1.3 trillion.
The Nasdaq and S&P 500 fell 4.18% and 2.64% after May payrolls rose 172,000 and unemployment held at 4.3%, stoking Fed worries.