Wall Street declines as chip stocks fall, jobs data raises Fed rate hike expectations

Wall Street ended sharply lower as chip stocks declined and strong jobs data fueled expectations for Fed rate hikes. These rising expectations are impacting growth stocks and crypto, potentially altering investment strategies due to tighter financial conditions. Simultaneously, the Dollar soared while US Bonds slid. The labor market strength has increased bets on a 2026 Fed hike, contributing to the overall market downturn, even as oil is positioned for a weekly gain.