U.S. stocks in New York opened lower on the 5th local time.
According to Reuters, the Standard & Poor's (S&P) 500 opened at 7,537.36, down 47.0 points (0.62%) from the previous session. The tech-heavy Nasdaq composite opened at 26,536.593, down 294.4 points (1.10%). The Dow Jones industrial average rose 48.1 points (0.09%) to 51,610.02.
Reuters said the S&P 500 and Nasdaq fell as semiconductor stocks entered a correction after a sharp rally and the strong U.S. labor market in May reinforced expectations for a tighter monetary policy.
The Bureau of Labor Statistics (BLS) at the U.S. Department of Labor said nonfarm payrolls in May increased by 172,000 from the previous month. The figure more than doubled the 80,000 estimate compiled by Dow Jones and marked a third straight monthly gain. The unemployment rate held at 4.3%, matching the previous month and meeting economists' expectations.