# StrongNonfarmPayrollsRekindleRateHikeFear

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On June 5, US May nonfarm payrolls surged by 172,000, far exceeding expectations of 85,000 and hitting a three-month high. Following the data release, market pricing for a Fed rate hike by year-end jumped from 48% to about 70%. The Nasdaq plunged over 4%, while the Philadelphia Semiconductor Index tumbled more than 10%. Macro pressure continues to weigh on markets. 📊 Sources: US Labor Department / CME FedWatch

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