Market Metrics, 6/5/26

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7. Carnage in Chip Stocks Hits Extra Hard in Top-Heavy Market - WSJ

Fears of rising interest rates collided with worries about artificial-intelligence spending on Wall Street Friday, bringing an abrupt and painful end to weeks of gains and sending the Nasdaq composite to its worst day in more than a year.

Stocks, bonds, oil, gold and bitcoin all tumbled. The tech-heavy Nasdaq fell 4.2%—more than 1,100 points—in its worst decline since the tariff rout of April 2025. Micron Technology, Intel, Super Micro Computer and Sandisk lost more than 11%. Cisco and Nvidia both dropped more than 6%. Equipment maker Caterpillar, lately an AI play because of its power and energy business, fell 3.8%.

https://www.wsj.com/finance/stocks/carnage-in-chip-stocks-hits-extra-hard-in-top-heavy-market-7f0ea76a?st=oYP8z8&reflink=desktopwebshare_permalink

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