Nasdaq Leads Wall Street Rebound as Chip Stocks Bounce Back and Iran-Israel Tensions Ease

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2026-06-08 23:58:02

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The Nasdaq Composite surged 1.2% on Monday, recovering from its worst single-day drop in over a year. Chip stocks spearheaded the rally, with Micron jumping 9% and Nvidia climbing 2%. Market sentiment improved as Iran signaled an end to military operations against Israel, alleviating oil price pressures.

Friday's selloff, triggered by a stronger-than-expected May jobs report, had sparked fears of potential Fed rate hikes. However, analysts noted the jobs growth concentrated in sectors like leisure and hospitality, potentially linked to World Cup preparations. The rebound in tech stocks suggests investors view the dip as a buying opportunity.

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