S&P 500 closes down 2.6%, NASDAQ 100 sinks 4.8% as hot jobs report spooks markets

S&P 500 closes down 2.6%, NASDAQ 100 sinks 4.8% as hot jobs report spooks markets

June 5: S&P -2.6%, NASDAQ -4.8% after 172k jobs report (vs 80-88k expected) killed rate-cut hopes; Nvidia -6.2%, Broadcom miss exposed AI spending not translating to earnings. Tech manager signal: Fed easing unlikely, AI ROI questioned—budget cycles contract, hiring freezes likely, capex scrutiny tightens.