Wall Street falls as chip stocks dip
Wall Street stocks declined, particularly the shares of electronic chip manufacturers, after the release of a strong jobs report for May showing an addition of 172,000 jobs, exceeding expectations, with the unemployment rate remaining steady at 4.3%. This led to an increase in U.S. Treasury bond yields, with the 10-year yield surpassing 4.5% and the 30-year yield reaching 5%, amid expectations of a higher likelihood of interest rate hikes by the Federal Reserve, which could trigger a wave of volatility in the markets.
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