NEW YORK, June 5 Shares dipped on Friday after a blowout jobs report fueled bets of a rate hike by the U.S.
Federal Reserve and as investors turned defensive ahead of the weekend, wary of the flare-up in Middle East hostilities
Iran reaffirmed support for the Hezbollah militia and demanded Israel withdraw from southern Lebanon, complicating efforts to end the broader conflict between the U.S. and Iran. Israel has said it would not withdraw troops from Lebanon. On Wall Street, all three indexes were lower, led by a selloff in technology shares, including AI chipmaker Nvidia.
Shares in Broadcom were down nearly 5%, continuing losses since the semiconductor company reported underwhelming results on Wednesday. The Dow Jones Industrial Average eased 0.17%, the S&P 500 lost 0.85% and the Nasdaq Composite dipped 1.58%. Data showed U.S. employers added far more jobs than expected in May, bolstering bets that the Fed could raise rates late this year.