Tech Stocks Lead Selloff Amid Strong Jobs Report | Bloomberg Businessweek Daily 6/5/2026

Watch on YouTube ↗  |  June 05, 2026 at 22:17  |  48:57  |  Bloomberg Markets
Speakers
Flood — Crypto Trader / Family Office Manager
Ira Jersey — Bloomberg Intelligence Chief US Interest Rate Strategist

Summary

The episode covers a major tech-led selloff after stronger-than-expected May jobs data reignited Fed rate hike bets. Goldman Sachs' John Flood remains bullish on the S&P 500, recommending buying dips and targeting 8000. He also highlights value in Korean and Taiwanese equity markets driven by memory sector momentum. The second segment discusses World Cup security preparations.

  • Strong May jobs report boosts Fed hike expectations, sparking broad market selloff.
  • Tech stocks lead declines, with Nasdaq and semiconductor indices down sharply.
  • John Flood (Goldman Sachs) is constructive on S&P 500, sees dips as buying opportunities with path to 8000.
  • Flood also points to value in Korean and Taiwanese equities, supported by memory sector fundamentals.
  • Later segment covers security challenges for upcoming World Cup across US cities.
Trade Ideas
Flood Crypto Trader / Family Office Manager 23:08
S&P 500 dips are buying opportunities.
John Flood is constructive on the S&P 500 despite the selloff, citing strong earnings, healthy demand for equity offerings, and significant skepticism/cash on the sidelines. He explicitly states that dips are buying opportunities and sees a clear path to 8000 this year.
SPY HIGH
Flood Crypto Trader / Family Office Manager 30:57
Korean and Taiwanese equities have upside.
Flood notes that memory (semiconductor) is a high-momentum sleeve still fairly priced, and there is strong institutional focus on Korea and Taiwan where fundamental support suggests further upside despite recent gains.
Korea equity market Taiwan equity market MED
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This Bloomberg Markets video, published June 05, 2026, features Flood discussing SPY, Korea equity market, Taiwan equity market. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Flood  · Tickers: SPY, Korea equity market, Taiwan equity market