Public Markets 3 Days

Last updated: June 6, 2026, 8:33 AM ET

Equity Markets

U.S. equity markets faced steep declines this week as the Nasdaq Composite tumbled 4% and the Nasdaq 100 sank 5% in an AI-led rout, with technology stocks bearing the brunt of higher bond yields following a robust jobs report that reignited rate hike expectations. The selloff accelerated after Broadcom suffered a $285 billion rout, with shares dropping 12% on Thursday as the chip company's revenue outlook disappointed investors, while Arm Holdings nearly doubled in price to reach a $218 billion valuation, making it one of the market's priciest stocks since its 2023 debut. Despite the carnage, Goldman Sachs strategist John Flood sees a buying opportunity, projecting the S&P 500 could reach 8,000 this year as retail investor strength faces testing ahead of potential SpaceX IPO.

The technology sector's volatility stems partly from concerns about mega-cap concentration, with major indexes dependent on a small group of big tech companies as chip and memory stocks sank, prompting a Nasdaq bloodbath. However, not all tech names faltered—Raspberry Pi shares surged as investors bet on hardware linked to the AI boom, with the UK maker expecting unit sales to exceed 4 million in the first half. Meanwhile, a little-known Indian stock's 530% rally revealed hidden AI winners in emerging markets, and Whale Rock Capital projected Anthropic could reach half a billion users, signaling continued optimism for select AI plays despite the broader market weakness.

Fixed Income & Credit Markets

Two-year Treasury yields jumped to their highest level in a year as investors dumped bonds after the hot jobs report, while U.S. airline bonds weakened after jet fuel costs spiked 8% on Middle East supply fears. The bond market's stress reflects broader concerns about U.S. Treasuries becoming a financial chokepoint, with a haven asset transforming into a source of systemic risk as the Federal Reserve's next move remains uncertain. In Europe, Austria lost its last top credit score from a major assessor due to persistently high budget deficits, ending decades as one of Europe's safest borrowers, while New Zealand's 2031 government bonds drew record demand at auction after the government unexpectedly cut projected borrowing needs.

Apollo Global Management sees investment-grade debt sales outpacing net issuance of U.S. Treasuries this year as Magnificent Seven tech companies and others seek massive capital raises, potentially reshaping the corporate bond landscape. The European Commission called on Spain to cut gas-fired power plant usage for electricity system stability after last year's blackout, advocating for better grids and interconnections. Meanwhile, Partners Group warned that evergreen funds will slow assets under management growth as investor redemptions pressure private markets platforms, and buyout and debt funds struggle with a $632 billion stockpile of uninvested capital raised earlier in the decade.

Energy & Commodities

Oil markets grappled with inventory drawdown pricing dynamics as Brent crude futures tested the $140 per barrel threshold amid supply concerns, while gold held its decline near $2,340 per ounce after renewed U.S.-Iran clashes jeopardized ceasefire talks and kept energy prices elevated. U.S. natural gas futures gained ahead of weekly storage data expected to show a modest supply surplus increase, providing some relief to energy consumers. The commodity complex faced additional pressure as beer giants prepared for the booziest World Cup in history, with analysts projecting an extra 1 billion pints consumed during the expanded tournament in beer-friendly countries.

Airbus delayed XLR deliveries to IndiGo as the war in Ukraine disrupted supply chains, with the longer-range A320 variant unlikely to reach full delivery targets this year. In agricultural markets, soaring chicken prices at $40 per serving on restaurant menus underscored broader food inflation pressures, with food prices mostly