US stocks today: Nasdaq crashes 1,100 pts, Dow 600 pts as chip stocks slide; jobs data fuels rate hike fears

June 5, 2026

Wall Street tumbled as a strong U.S. jobs report dimmed hopes of rate cuts, triggering a sharp selloff in overheated tech and chip stocks. The Nasdaq plunged over 4%, ending a nine-week rally, while persistent Middle East tensions and rising yields further pressured investor sentiment.

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ITC’s tobacco business is going cheap but Kotak Institutional Equities thinks market has it wrong

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