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US stocks fall amid strong jobs data
The U.S. stock market experienced a decline after the release of a strong jobs report for May, which showed the addition of 172,000 jobs, surpassing the expectations of 85,000 jobs. The unemployment rate remained steady at 4.3%. This led to an increase in Treasury bond yields and expectations of a 25 basis point interest rate hike by the end of the year, along with heightened pressure on tech stocks and the U.S. dollar.
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