US Stocks Face Massive Sell-Off: Nasdaq and S&P 500 Plunge Over Fed Rate Worries

13:00 - 7.06.2026

June 7, Fineko/abc.az. US stock markets wrapped up the week with a sharp decline as a hot jobs report dashed investor hopes for an upcoming Federal Reserve interest rate cut.

ABC.AZ reports via CNBC that the S&P 500 dropped 2.6% while the tech-heavy Nasdaq tumbled 4.2% over the week. With 10-year US Treasury yields climbing past 4.5%, investors aggressively rotated capital away from megacap tech equities into defensive sectors like finance and healthcare.

Corporate Movers and Market Supply:

  • Major Decliners: Tech giants Broadcom and Intel led the losses, plunging 13.7% and 13.5% respectively due to weak earnings outlooks. Nvidia shed 2.9%, and Alphabet dropped 3% following its announcement of an $85 billion stock sale to fund internal AI infrastructure.

  • Top Gainer: Shrugging off the broader market gloom, Marvell Technology surged over 28% after Nvidia CEO Jensen Huang tipped the firm to become the next trillion-dollar tech corporation.

  • Liquidity Strain: Analysts warn that impending massive equity supplies — including SpaceX's planned $75 billion secondary sale and Anthropic’s highly anticipated IPO — are poised to outpace investor demand and weigh on market valuations.