U.S. equities closed sharply lower Friday, with the Nasdaq Composite falling 4.18% and the S&P 500 dropping 2.64%, as a Broadcom-led chip selloff collided with a stronger-than-expected May jobs report showing 172,000 positions added. The week ahead brings Microsoft earnings Monday, Alphabet Thursday, and May CPI data Wednesday — all against a backdrop of 3.8% annual inflation and a Fed meeting just days away on June 16-17. Traders face the sharpest tech drawdown since the tariff turmoil of early 2025 with no obvious catalyst for an immediate reversal.
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