Stocks Decline as Jobs Report Fuels Rate Hike Bets, Key Metrics

AI Summary

U.S. stocks decreased on June 5, led by a selloff in technology shares, with the Dow Jones Industrial Average down 0.17%, S&P 500 down 0.85%, and Nasdaq Composite down 1.58%. A robust jobs report revealed that U.S. employers added more jobs than anticipated in May, raising expectations for a Federal Reserve rate hike later this year. U.S. Treasury yields surged, with the 2-year note reaching 4.153%, a 15-month high. Brent crude fell 1.2% to $93.84 per barrel, while U.S. crude dipped 1.9% to $91.22 per barrel, marking their first weekly gains in three weeks.