Market Update
Semiconductor Stocks Remained Under Pressure After Friday's Route
Barry Adams
08 Jun, 2026
New York City
Wall Street indexes attempted to rebound in early Monday's trading, following a sharp selloff on Friday, and volatile crude oil prices jumped amid renewed hostilities in the Middle East.
The S&P 500 Index increased 0.3%, and the tech-heavy Nasdaq Composite advanced 0.6% as investors searched for bargains after a steep decline in AI names.
Nvidia, Micron, Marvell Technology, SanDisk, and Broadcom plunged between 3% and 11% in Friday's trading after the U.S. nonfarm payrolls advanced at a faster-than-expected pace in May.
The increase in May's payroll supported the case for higher-for-longer interest rates and stoked fears of a rate hike as early as the next policy meeting ending on Wednesday, June 17.
The U.S. economy added 172,000 net new jobs in May, the jobless rate held at 4.3%, and the annual wage growth eased to 3.4% from 3.6% in the previous month, according to the latest update released by the U.S. Bureau of Labor Statistics. on Friday.
The change in total nonfarm payroll employment for March was revised up by 29,000, from 185,000 to 214,000, and the change for April was revised up by 64,000, from 115,000 to 179,000.
With these revisions, employment in March and April combined is 93,000 higher than previously reported, the BLS report noted.
The resilient job market confirmed that the elevated AI investment and upcoming sports events are supporting the employment growth in the leisure and entertainment and professional trades.
However, the recent increases in job growth are likely to fade in the second half, and economists are still estimating nonfarm payrolls to expand by less than 1.7 million, below the long-term average of 2 million.
Asian markets closed down following a global rout in tech stocks, and benchmark indexes in Japan dropped nearly 4%, in South Korea decreased 8.3%, and in India and Hong Kong eased 1%.
Markets in Europe struggled to advance on Monday, after losing between 1% and 2%, as investors soured on AI names amid valuation worries following a rally over the last ten weeks.
Crude oil prices rebounded in New York and London after Iran, Israel, and the U.S. exchanged fire in the Middle East.
West Texas Intermediate crude oil prices advanced 1.5% to $91.88 a barrel, and the international Brent crude oil prices jumped 1.5% to $94.45 a barrel.
Investors are increasingly focused on the commercial shipments through the Strait of Hormuz, as China and Japan struggle to refill the rapidly depleting crude oil inventories and Europe sources jet fuel from the U.S.-based refineries.
Semiconductor Stocks Remained Under Pressure After Friday's Route
Barry Adams
08 Jun, 2026
New York City
Wall Street indexes attempted to rebound in early Monday's trading, following a sharp selloff on Friday, and volatile crude oil prices jumped amid renewed hostilities in the Middle East.
The S&P 500 Index increased 0.3%, and the tech-heavy Nasdaq Composite advanced 0.6% as investors searched for bargains after a steep decline in AI names.
Nvidia, Micron, Marvell Technology, SanDisk, and Broadcom plunged between 3% and 11% in Friday's trading after the U.S. nonfarm payrolls advanced at a faster-than-expected pace in May.
The increase in May's payroll supported the case for higher-for-longer interest rates and stoked fears of a rate hike as early as the next policy meeting ending on Wednesday, June 17.
The U.S. economy added 172,000 net new jobs in May, the jobless rate held at 4.3%, and the annual wage growth eased to 3.4% from 3.6% in the previous month, according to the latest update released by the U.S. Bureau of Labor Statistics. on Friday.
The change in total nonfarm payroll employment for March was revised up by 29,000, from 185,000 to 214,000, and the change for April was revised up by 64,000, from 115,000 to 179,000.
With these revisions, employment in March and April combined is 93,000 higher than previously reported, the BLS report noted.
The resilient job market confirmed that the elevated AI investment and upcoming sports events are supporting the employment growth in the leisure and entertainment and professional trades.
However, the recent increases in job growth are likely to fade in the second half, and economists are still estimating nonfarm payrolls to expand by less than 1.7 million, below the long-term average of 2 million.
Asian markets closed down following a global rout in tech stocks, and benchmark indexes in Japan dropped nearly 4%, in South Korea decreased 8.3%, and in India and Hong Kong eased 1%.
Markets in Europe struggled to advance on Monday, after losing between 1% and 2%, as investors soured on AI names amid valuation worries following a rally over the last ten weeks.
Crude oil prices rebounded in New York and London after Iran, Israel, and the U.S. exchanged fire in the Middle East.
West Texas Intermediate crude oil prices advanced 1.5% to $91.88 a barrel, and the international Brent crude oil prices jumped 1.5% to $94.45 a barrel.
Investors are increasingly focused on the commercial shipments through the Strait of Hormuz, as China and Japan struggle to refill the rapidly depleting crude oil inventories and Europe sources jet fuel from the U.S.-based refineries.
Nikkei 225 Average Down 5% and KOSPI Dropped 6% Amid Global Rout In Tech Stocks
Akira Ito
08 Jun, 2026
Toronto
Japan's indexes fell sharply in Monday's trading, mirroring losses in technology stocks in Friday's trading in New York.
The Nikkei 225 Stock Average dropped about 5%, and the TOPIX declined 2.7% as the global weakness in tech stocks weighed on the market sentiment.
Japan's market indexes declined sharply on Monday, following the losses experienced on Wall Street the previous Friday.
Wall Street indexes plunged on Friday after the U.S. economy added more-than-expected jobs in May, raising the prospects that higher-for-longer interest rates could weigh on the economy and AI investment.
The U.S. economy added about 172,000 net new jobs in May, the jobless rate held at 4.3%, and the annual wage growth eased to 3.4% from 3.6% in the previous month, according to the latest update released by the U.S. Bureau of Labor Statistics.
The change in total nonfarm payroll employment for March was revised up by 29,000, from 185,000 to 214,000, and the change for April was revised up by 64,000, from 115,000 to 179,000.
With these revisions, employment in March and April combined is 93,000 higher than previously reported, the BLS report noted.
Japan's economy grew at an annual rate of 0.6% in the first quarter, up from 0.2% in the fourth quarter, in line with the preliminary data released by the Cabinet Office.
GDP expanded 0.5% from the previous quarter, matching the preliminary estimate and accelerating from the 0.2% increase in the fourth quarter of 2025, driven by a pickup in private consumption and easing cost pressures and steady wage growth.
Brent crude oil soared 4% to $97.46 a barrel amid renewed hostilities in the Middle East, and Israel and Iran exchanged aerial attacks and missile and drone strikes.
Japan Indexes and Stocks
The Nikkei 225 Stock Average dropped 4.5% to 63,585.45, and the TOPIX fell 3.2% to 3,823.89.
Semiconductor- and AI-linked stocks led the decliners in Tokyo in Monday's trading.
Renesas Electronics dropped 6%, SoftBank Group fell 9%, Advantest Corp. eased 5%, and Tokyo Electron decreased 6%.
Nikkei 225 Average Down 4% and KOSPI Dropped 6% Amid Global Rout In Tech Stocks
Akira Ito
08 Jun, 2026
Toronto
Japan's indexes fell sharply in Monday's trading, mirroring losses in technology stocks in Friday's trading in New York.
The Nikkei 225 Stock Average dropped about 4%, and the TOPIX declined 2.7% as the global weakness in tech stocks weighed on the market sentiment.
Japan's market indexes declined sharply on Monday, following the losses experienced on Wall Street the previous Friday.
Wall Street indexes plunged on Friday after the U.S. economy added more-than-expected jobs in May, raising the prospects that higher-for-longer interest rates could weigh on the economy and AI investment.
The U.S. economy added about 172,000 net new jobs in May, the jobless rate held at 4.3%, and the annual wage growth eased to 3.4% from 3.6% in the previous month, according to the latest update released by the U.S. Bureau of Labor Statistics.
The change in total nonfarm payroll employment for March was revised up by 29,000, from 185,000 to 214,000, and the change for April was revised up by 64,000, from 115,000 to 179,000.
With these revisions, employment in March and April combined is 93,000 higher than previously reported, the BLS report noted.
Japan's economy grew at an annual rate of 0.6% in the first quarter, up from 0.2% in the fourth quarter, in line with the preliminary data released by the Cabinet Office.
GDP expanded 0.5% from the previous quarter, matching the preliminary estimate and accelerating from the 0.2% increase in the fourth quarter of 2025, driven by a pickup in private consumption and easing cost pressures and steady wage growth.
Brent crude oil soared 4% to $97.46 a barrel amid renewed hostilities in the Middle East, and Israel and Iran exchanged aerial attacks and missile and drone strikes.
Japan Indexes and Stocks
The Nikkei 225 Stock Average dropped 3.9% to 63,998.05, and the TOPIX fell 2.7% to 3,841.14.
Semiconductor- and AI-linked stocks led the decliners in Tokyo in Monday's trading.
Renesas Electronics dropped 6%, SoftBank Group fell 9%, Advantest Corp. eased 5%, and Tokyo Electron decreased 6%.
China's Indexes Traded Down Tracking Friday's Wall Street Losses
Li Chen
08 Jun, 2026
Hong Kong
China's market indexes turned sharply lower in Monday's trading, tracking losses in Friday's trading on Wall Street.
The Hang Seng Index decreased 1.2%, and the mainland-focused CSI 300 Index dropped 1.7% as a sharp sell-off in technology stocks weighed heavily on markets.
China's market indexes declined sharply on Monday, following the losses experienced on Wall Street the previous Friday.
Wall Street indexes plunged on Friday after the U.S. economy added more-than-expected jobs in May, raising the prospects that elevated borrowing costs could weigh on the economy and investment.
The U.S. economy added about 172,000 net new jobs in May, the jobless rate held at 4.3%, and the annual wage growth eased to 3.4% from 3.6% in the previous month, according to the latest update released by the U.S. Bureau of Labor Statistics.
The change in total nonfarm payroll employment for March was revised up by 29,000, from 185,000 to 214,000, and the change for April was revised up by 64,000, from 115,000 to 179,000.
With these revisions, employment in March and April combined is 93,000 higher than previously reported, the BLS report noted.
Investors are eagerly anticipating the release of China's international trade and inflation data later this week.
China Indexes and Stocks
The Hang Seng Index decreased 1.2% to 24,668.39, and the mainland-focused CSI 300 Index dropped 1.7% to 4,737.50.
Year to date, the Hang Seng Index extended losses to 6.4%, and the CSI 300 Index trimmed gains to 0.4%.
Technology and semiconductor-linked stocks led market decliners in mainland China and Hong Kong trading.
Zhongji Innolight, Eoptolink Technology, SMIC, and NAURA Technology decreased between 8% and 3%.
China's Indexes Traded Down Tracking Friday's Wall Street Losses
Li Chen
08 Jun, 2026
Hong Kong
China's market indexes turned sharply lower in Monday's trading, tracking losses in Friday's trading on Wall Street.
The Hang Seng Index decreased 1.2%, and the mainland-focused CSI 300 Index dropped 1.7% as a sharp sell-off in technology stocks weighed heavily on markets.
China's market indexes declined sharply on Monday, following the losses experienced on Wall Street the previous Friday.
Wall Street indexes plunged on Friday after the U.S. economy added more-than-expected jobs in May, raising the prospects that elevated borrowing costs could weigh on the economy and investment.
The U.S. economy added about 172,000 net new jobs in May, the jobless rate held at 4.3%, and the annual wage growth eased to 3.4% from 3.6% in the previous month, according to the latest update released by the U.S. Bureau of Labor Statistics.
The change in total nonfarm payroll employment for March was revised up by 29,000, from 185,000 to 214,000, and the change for April was revised up by 64,000, from 115,000 to 179,000.
With these revisions, employment in March and April combined is 93,000 higher than previously reported, the BLS report noted.
Investors are eagerly anticipating the release of China's international trade and inflation data later this week.
China Indexes and Stocks
The Hang Seng Index decreased 1.2% to 24,668.39, and the mainland-focused CSI 300 Index dropped 1.7% to 4,737.50.
Year to date, the Hang Seng Index extended losses to 6.4%, and the CSI 300 Index trimmed gains to 0.4%.
Technology and semiconductor-linked stocks led market decliners in mainland China and Hong Kong trading.
Zhongji Innolight, Eoptolink Technology, SMIC, and NAURA Technology decreased between 8% and 3%.
S&P 500 Dropped 2%, Nasdaq Plunged 4.2%; 10-Year Yield Crossed 4.5%
Barry Adams
05 Jun, 2026
New York City
Global markets retreated and showed heightened volatility as tech-heavy indices adjust to cooling AI momentum.
Renewed hostilities in the Middle East dampened the prospect of a temporary ceasefire in the Middle East.
At the start of the week, world market averages extended gains as investors reacted to positive earnings and stayed optimistic about the prospects for AI infrastructure investing and technologies.
However, as the week progressed, the market mood soured amid renewed hostilities in the Middle East and concerns over the AI trade.
Wall Street indexes traded down after a volatile week amid concerns over AI-linked stock valuations following Broadcom's weaker-than-expected revenue outlook for the current quarter.
Wall Street indexes plunged on Friday after the U.S. economy added more-than-expected jobs in May, raising the prospects that elevated borrowing costs could weigh on the economy and investment.
The U.S. economy added about 172,000 net new jobs in May, jobless rate held at 4.3%, and the annual wage growth eased to 3.4% from 3.6% in the previous month, according to the latest update released by the U.S. Bureau of Labor Statistics.
The change in total nonfarm payroll employment for March was revised up by 29,000, from 185,000 to 214,000, and the change for April was revised up by 64,000, from 115,000 to 179,000.
With these revisions, employment in March and April combined is 93,000 higher than previously reported, the BLS report noted.
European markets traded mixed amid lingering uncertainty in the Middle East, and investors digested a string of economic data confirming resilient conditions despite elevated inflationary pressures.
Japan's Nikkei 225 Stock Average closed unchanged after a week of trading, as concerns mounted over the AI trade following Broadcom's estimate of a weaker-than-expected sales outlook.
For the week, the Nikkei 225 Stock Average advanced 0.1%, and the TOPIX increased 0.2%, as investors reviewed a fresh batch of economic data released this week.
In May, the Nikkei 225 Stock Average gained 11.3%, and the TOPIX increased 6.8% after investors bid up AI- and semiconductor-related stocks for the second consecutive month.
Across exchanges in China, Hong Kong and Shanghai indexes rebounded on Friday and traded down at the end of a week, despite a rebound in enthusiasm over AI trade.
After a week of choppy trading, the Hang Seng index decreased 1.2%, and the CSI 300 Index edged down 1.7%.
Despite the recent run-up in China-based stocks, investors have been cautious about increasing exposure to Chinese companies amid low margins, intense competition, and poor visibility of future profits.
India's indexes closed down 0.8%at the end of a volatile week, and the Reserve Bank of India left its benchmark rates unchanged at 5.25% for the third consecutive meeting in June.
The central bank also lowered its fiscal year economic growth estimate to 6.6% from the previous estimate of 6.9% and revised higher its inflation estimate to 5.1% from 4.6%, mainly driven by the higher costs of imported energy products.
In May, benchmark indexes declined 3.5% as foreign investors continued to lower exposure to emerging markets amid higher yields on the U.S. Treasury notes.
Since the start of the year, the sell-off in Indian securities has intensified, particularly in stocks, according to India's NSDL.
Foreign investors sold about $28 billion in 2026 as of the end of the first week of June, compared to about $18 billion in the comparable period in 2025, reversing the inflow of $20.7 billion in 2023.
U.S. Movers
Broadcom dropped 13% to $418.91 after the advanced chipmaker's outlook fell short of some investors.
Revenue in the fiscal second quarter ending on May 3 increased 48% to $22.2 billion from $15.0 billion, net income soared 88% to $9.3 billion from $5.0 billion, and diluted earnings per share rose 85% to $1.91 from $1.03 a year ago.
The company's Board of Directors declared a quarterly cash dividend of 65 cents payable on June 30 to shareholders on record on June 22.
The company guided fiscal third-quarter revenue of $29.4 billion and an adjusted operating margin of 68% of protected revenue.
U.S. Market Rally Struggled In Tenth Week as AI Momentum Faltered
Barry Adams
05 Jun, 2026
New York City
Global markets retreated and showed heightened volatility as tech-heavy indices adjust to cooling AI momentum.
Renewed hostilities in the Middle East dampened the prospect of a temporary ceasefire in the Middle East.
At the start of the week, world market averages extended gains as investors reacted to positive earnings and stayed optimistic about the prospects for AI infrastructure investing and technologies.
However, as the week progressed, the market mood soured amid renewed hostilities in the Middle East and concerns over the AI trade.
Wall Street indexes traded down after a volatile week amid concerns over AI-linked stock valuations following Broadcom's weaker-than-expected revenue outlook for the current quarter.
The U.S. economy added about 85,000 net new jobs in May, jobless rate held at 4.3%, and the annual wage growth eased to 3.4% from 3.6% in the previous month, according to the latest update released by the U.S. Bureau of Labor Statistics.
European markets traded mixed amid lingering uncertainty in the Middle East, and investors digested a string of economic data confirming resilient conditions despite elevated inflationary pressures.
Japan's Nikkei 225 Stock Average closed unchanged after a week of trading, as concerns mounted over the AI trade following Broadcom's estimate of a weaker-than-expected sales outlook.
For the week, the Nikkei 225 Stock Average advanced 0.1%, and the TOPIX increased 0.2%, as investors reviewed a fresh batch of economic data released this week.
In May, the Nikkei 225 Stock Average gained 11.3%, and the TOPIX increased 6.8% after investors bid up AI- and semiconductor-related stocks for the second consecutive month.
Across exchanges in China, Hong Kong and Shanghai indexes rebounded on Friday and traded down at the end of a week, despite a rebound in enthusiasm over AI trade.
After a week of choppy trading, the Hang Seng index decreased 1.2%, and the CSI 300 Index edged down 1.7%.
Despite the recent run-up in China-based stocks, investors have been cautious about increasing exposure to Chinese companies amid low margins, intense competition, and poor visibility of future profits.
India's indexes closed down 0.8%at the end of a volatile week, and the Reserve Bank of India left its benchmark rates unchanged at 5.25% for the third consecutive meeting in June.
The central bank also lowered its fiscal year economic growth estimate to 6.6% from the previous estimate of 6.9% and revised higher its inflation estimate to 5.1% from 4.6%, mainly driven by the higher costs of imported energy products.
In May, benchmark indexes declined 3.5% as foreign investors continued to lower exposure to emerging markets amid higher yields on the U.S. Treasury notes.
Since the start of the year, the sell-off in Indian securities has intensified, particularly in stocks, according to India's NSDL.
Foreign investors sold about $28 billion in 2026 as of the end of the first week of June, compared to about $18 billion in the comparable period in 2025, reversing the inflow of $20.7 billion in 2023.
U.S. Movers
Broadcom dropped 13% to $418.91 after the advanced chipmaker's outlook fell short of some investors.
Revenue in the fiscal second quarter ending on May 3 increased 48% to $22.2 billion from $15.0 billion, net income soared 88% to $9.3 billion from $5.0 billion, and diluted earnings per share rose 85% to $1.91 from $1.03 a year ago.
The company's Board of Directors declared a quarterly cash dividend of 65 cents payable on June 30 to shareholders on record on June 22.
The company guided fiscal third-quarter revenue of $29.4 billion and an adjusted operating margin of 68% of protected revenue.
Japan's Real Wage Growth Streak Extended to Fourth Month In April, Nikkei 225 Declined 1%
Akira Ito
05 Jun, 2026
Tokyo
Japan's benchmark indexes extended losses of the previous session in Friday's trading as technology and AI-related stocks continued to face selling pressure.
The Nikkei 225 Stock Average dropped 1.6%, and the broader TOPIX eased 0.1%, and the yen hovered at 159.95 against the U.S. dollar.
For the week, the Nikkei 225 Stock Average edged up 0.2%, and the TOPIX advanced 0.6%.
Investors remained cautious amid the fragile ceasefire between the U.S. and Iran, and renewed escalation of violence in the Middle East dented hopes of immediate reopening of the Strait of Hormuz.
On the economic front, Japan's real wages rose for the fourth consecutive month in April, supporting the case for the Bank of Japan to raise rates later in the month.
Real Wages Rise for the Fourth Straight Month In April
The average monthly cash earnings, or nominal wages, per worker increased 3.5% from a year ago in April to 312,425 yen, or $1,900, rising above 3% for the first time in three months in 34 years.
The monthly update was released by the Ministry of Health, Labor, and Welfare.
After adjusting for an inflation index of 1.5%, real wages rose 1.9% from a year ago, marking the rise for the fourth consecutive month and the longest positive streak since a seven-month string starting in February 2021.
The annual rise accelerated from a 1.4% increase in March, according to the government data.
Households of two or more workers spent an average of 328,969 yen, the Ministry of Internal Affairs and Communications said in a separate report.
The spending on food and beverages dropped 0.6%, while expenditure on apparel and shoes plunged 10.9% from a year ago, respectively.
However, transportation and communication sector spending rose 7.5%, driven by higher demand for passenger vehicles because of the abolition of a tax at the end of March.
Japan Indexes and Stocks
The Nikkei 225 Stock Average dropped 1.6% to 66,407.65, and the broader TOPIX declined 0.1% to 3,947.42.
Semiconductor equipment makers led the decliners in Friday's trading.
SoftBank Group, Kioxa Holding, Tokyo Electron, Advantest Corp., and Murata Manufacturing dropped between 1% and 4%.
Japan's Real Wage Growth Streak Extended to Fourth Month In April, Nikkei 225 Declined 1%
Akira Ito
05 Jun, 2026
Tokyo
Japan's benchmark indexes extended losses of the previous session in Friday's trading as technology and AI-related stocks continued to face selling pressure.
The Nikkei 225 Stock Average dropped 1.6%, and the broader TOPIX eased 0.1%, and the yen hovered at 159.95 against the U.S. dollar.
For the week, the Nikkei 225 Stock Average edged up 0.2%, and the TOPIX advanced 0.6%.
Investors remained cautious amid the fragile ceasefire between the U.S. and Iran, and renewed escalation of violence in the Middle East dented hopes of immediate reopening of the Strait of Hormuz.
On the economic front, Japan's real wages rose for the fourth consecutive month in April, supporting the case for the Bank of Japan to raise rates later in the month.
Real Wages Rise for the Fourth Straight Month In April
The average monthly cash earnings, or nominal wages, per worker increased 3.5% from a year ago in April to 312,425 yen, or $1,900, rising above 3% for the first time in three months in 34 years.
The monthly update was released by the Ministry of Health, Labor, and Welfare.
After adjusting for an inflation index of 1.5%, real wages rose 1.9% from a year ago, marking the rise for the fourth consecutive month and the longest positive streak since a seven-month string starting in February 2021.
The annual rise accelerated from a 1.4% increase in March, according to the government data.
Households of two or more workers spent an average of 328,969 yen, the Ministry of Internal Affairs and Communications said in a separate report.
The spending on food and beverages dropped 0.6%, while expenditure on apparel and shoes plunged 10.9% from a year ago, respectively.
However, transportation and communication sector spending rose 7.5%, driven by higher demand for passenger vehicles because of the abolition of a tax at the end of March.
Japan Indexes and Stocks
The Nikkei 225 Stock Average dropped 1.6% to 66,407.65, and the broader TOPIX declined 0.1% to 3,947.42.
Semiconductor equipment makers led the decliners in Friday's trading.
SoftBank Group, Kioxa Holding, Tokyo Electron, Advantest Corp., and Murata Manufacturing dropped between 1% and 4%.