Nasdaq plunges in biggest drop since April 2025 as strong May jobs report fuels rate hike fears. US chipmakers lose $1.3T in value.
The Nasdaq experienced its largest daily drop since April 2025, driven by a strong May jobs report that raised fears of interest rate hikes, ending a nine-week winning streak. US-traded chipmakers lost approximately $1.3 trillion in market value.
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Marvell Technology to join S&P 500 index after AI boom drives profitability. Chipmaker meets benchmark for inclusion in the key market gauge.
Chipmaker Marvell Technology will join the S&P 500 index after its AI boom helped it pass a profitability test.
Chip slump wipes out $1.3 trillion in stock market value
A decline in chip stocks has erased $1.3 trillion in stock market value.
U.S. long-term joblessness surges above 1.8 million this year, a CNBC analysis of BLS data shows, averaging a level 45% higher than in 2019.
The number of Americans unemployed for 27 weeks or longer has averaged more than 1.8 million this year, according to a CNBC analysis of data from the Bureau of Labor Statistics. That figure is about 45% higher than 2019 levels.
U.S. teen summer job market toughest since 1948, Fortune reports.
According to Fortune, U.S. high school students are facing the most challenging summer job market since 1948.
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