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Nasdaq plunges 1,100 points over renewed rate hike concerns
Yahoo Finance Video61d agobearishVIDEO
Nasdaq plunges 1,100 points over renewed rate hike concerns

US stocks (^DJI, ^IXIC, ^GSPC) sink in Friday trading, the Nasdaq Composite leading losses and closing over 1,100 points lower (4.18%). The market is reacting to May's overwhelmingly positive labor data — 172,000 jobs added the US economy vs. estimates of 88,000 — raising investor concerns that the Federal Reserve may be inclined to hike interest rates. Yahoo Finance Markets and Data Editor Jared Blikre breaks down the day's biggest market moves.

Intel Lands AI Partnership With Apple Supplier Foxconn. Why the Stock Is Falling.
Barrons.com63d agobearish
Intel Lands AI Partnership With Apple Supplier Foxconn. Why the Stock Is Falling.

Intel is teaming up with Apple supplier Foxconn to develop artificial-intelligence infrastructure—but that wasn’t enough to stop the chip manufacturer’s stock from sliding on Thursday. The selloff came after Intel and Foxconn, also known as Hon Hai Precision Industry said they would collaborate to speed up the AI buildout. “Together, we are accelerating the delivery of end-to-end platforms that unlock new capabilities and extend the impact of AI worldwide,” Intel CEO Lip-Bu Tan said.