Shesa's Weekend Stock Market Updates - 6|7|26
Welcome to my weekends updates Last week we saw strong early momentum after May’s rally but a huge sell-off on Friday, driven by a strong U.S. jobs report that raised interest rate concerns and some other factors. Let us first look into the U.S. stock Indices Performance: • S&P 500: Closed at 7,383.74, down -2.64% on the day. It had hit recent highs near 7,620 earlier in the period before pulling back. • Dow Jones Closed at 50,867, down -1.35% . It had gone past 51,000 earlier. • Nasdaq: Closed at 25,709, down a steep -4.18% on Friday, reflecting heavy tech selling. Nasdaq had its worst day since APRIL 2025. The drop of 1,121.53 was the WORST points drop ever in the history of Nasdaq. The technology stocks and particularly semiconductor stocks were hit the hardest as they had appreciated too much. So, what caused this massive drop in the stock market, particularly Nasdaq. First, the non-farm payrolls jumped to 172,000 vs. estimated for 80,000. Unemployme...