On Friday, US stocks suffered a significant sell-off, highlighted by the Nasdaq index's plunge of 4.18%, closing at 25,709. This marked the index's worst single-day performance in over a year. The Dow Jones Industrial Average also fell, losing 695 points (1.35%), while the S&P 500 dropped 200 points (2.64%), breaking a nine-week winning streak. The downturn was largely triggered by the May non-farm payrolls report, which showed a rise of 172,000 jobs, surpassing market expectations. This stronger-than-anticipated labor data raised concerns that the Federal Reserve might maintain higher interest rates for a longer period or consider additional rate hikes, potentially impacting economic growth. The semiconductor sector was particularly hard-hit, with the PHLX Semiconductor Sector declining over 10%, its steepest loss since March 2020. Major chip manufacturers like Nvidia, Broadcom, Intel, and Micron saw significant declines, with Nvidia losing more than 6% and erasing over $300 billion in market value. In contrast, Procter & Gamble emerged as a rare gainer, increasing by over 4% amidst the broader market decline.