NASDAQ index plunges 4.18% after strong US employment report
The US stock market declined sharply on Friday, with the NASDAQ index tumbling 4.18% and the S&P 500 falling 2.65%.
The decline was triggered by a stronger-than-expected US employment report, which showed nonfarm payrolls increasing by 172,000 in May.
The market was also affected by reports of Meta considering an equity offering to finance its AI infrastructure buildout, following Alphabet’s $85 billion equity raise earlier in the week.