The Nasdaq 100 cratered as much as 5% on June 5, marking the kind of day that makes portfolio managers reconsider their life choices. The Nasdaq Composite closed down 4.18%, shedding 1,121.53 points to land at 25,709.43, its worst single-day performance since April 2025.
The May employment data showed the US economy added 172,000 jobs, nearly double the 88,000 that economists had forecast. The 10-year Treasury yield climbed above 4.5%. The 30-year yield punched through 5%. When yields rise like that, the math changes for every stock whose valuation depends on future earnings, which is basically the entire Nasdaq 100.
Semiconductors took the hardest hit
A chip index gauge fell approximately 9% to 10% on the day. Marvell Technology dropped 16%. Micron Technology fell 13%. Intel and AMD each lost somewhere between 7% and 11%.
Meta Platforms also took a 5.5% hit, with speculation around a significant stock sale adding selling pressure on top of the broader macro-driven rout.
