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1 revisions for "172,000 Jobs, One New Fed Chair, and a Chip Rout: Inside the Session That Reset Rate Expectations"

The May 2026 jobs report showed 172,000 nonfarm payrolls added — more than double the 80,000 consensus — while unemployment held at 4.3%, reinforcing the case for the Federal Reserve under new Chair Kevin Warsh to keep rates at 3.5–3.75% through year-end. A simultaneous semiconductor selloff triggered by Broadcom's disappointing AI guidance compounded the damage, with the Nasdaq falling 3% and individual chip stocks losing 8–13% in a single session that erased hundreds of billions in market value.