Topic: #equities
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Tech Profit-Taking Hits Nasdaq, Semiconductors; Meta Surges on AI Cloud Service
US equity markets declined on July 1 as investors trimmed technology positions, with the Nasdaq falling 0.66% and semiconductors hit hardest. Meta Platforms bucked the trend, surging 9% after announcing plans to monetize excess AI computing capacity through a new cloud service.
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Nasdaq plunges 4.2% on stronger-than-expected May jobs data
The Nasdaq fell 4.2% and the S&P 500 dropped 2.6% after a May jobs report showed 172,000 positions added, nearly double consensus estimates, triggering concerns the Federal Reserve might raise rates. Bitcoin and Ether also declined sharply.