USA: Tech Rout Drags US Stocks Sharply Lower.

US stocks fell sharply on Friday as a steep selloff in semiconductor shares rattled markets. The Nasdaq dropped 4.2%, marking its worst session since April 2025, while the S&P 500 lost 2.6%. The Dow Jones declined 1.4% after reaching a record high the previous day. Chipmakers led the retreat, with Broadcom falling more than 7% following a double-digit decline on Thursday. Marvell Technology and Micron Technology plunged about 16% and 13%, respectively, while Intel and AMD lost around 11%. The weakness came after stronger-than-expected jobs data showed the US economy added 172,000 positions in May, far exceeding forecasts. The report pushed Treasury yields higher, with the 10-year yield rising above 4.5% and the 30-year yield topping 5%, fueling concerns that elevated borrowing costs could weigh on economic growth and investment. For the week, the S&P 500 fell more than 2%, while the Nasdaq lost around 4.7%.