Stock Market Today, June 5: Strong Jobs Data Drives Broad Sell-Off at Midday

Strong jobs data showing 172,000 payrolls added in May (well above the expected 80,000) triggered a broad stock market sell-off on June 5, 2026. The better-than-expected employment report increased the likelihood of Federal Reserve rate hikes, with economists estimating a 70% probability of a December rate increase. The tech-heavy Nasdaq fell 2.65%, with AI and chip stocks leading declines due to valuation concerns amid higher interest rate expectations.