Wall Street falls on chip stock slide
Wall Street indices sharply declined, with the Standard & Poor's 500 dropping by 2.63% to close at 7,384.67 points, and the Nasdaq falling by 4.16% to reach 25,713.58 points. The Dow Jones also decreased by 1.33%, ending the day at 50,877.40 points. This was after the strong jobs report for May raised concerns about the Federal Reserve tightening its monetary policy.
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