Bloomberg's Norah Mulinda reports a tech sector selloff driven by rate hike expectations and a rotation out of tech, which is the worst-performing S&P 500 sector.
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Bloomberg
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Financial Media
Norah Mulinda 3.5
Financial Media
Norah Mulinda 3.5
6/6/2026 12:54:44 AM
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Norah Mulinda describes a 'crackdown' and 'selloff' focused on the tech sector, which is the worst performing group, implying a downward direction for the Nasdaq.
NEC Director Kevin Hassett argues that high wage growth and native-born Americans entering the labor market indicate a supply-side boom that can avert runaway inflation, surprising Wall Street analysts.
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National Economic Council
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Kevin Hassett 7.5
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Kevin Hassett 7.5
6/6/2026 12:54:44 AM
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A strong jobs report (172k vs ~86k expected) and high wage growth increase the likelihood of Fed rate hikes, which typically pushes yields up. The transcript also notes traders fully priced in a rate hike.
Goldman Sachs partner John Flood says a rate hike by year-end is now expected, which is healthy, and views the selloff as a buying opportunity due to significant cash on the sidelines and short exposure.
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Goldman Sachs
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Investment Bank $2500.00B
John Flood 8.5
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John Flood 8.5
6/6/2026 12:54:44 AM
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I do think it's a buying opportunity. And I think that there is still a significant amount of worry cash on the sidelines short exposure out there for the market to climb higher.
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People now think that we will get a rate hike and by year end.