{"slug": "s-p-500-streak-at-risk-as-ai-trade-takes-another-leg-lower", "title": "S&P 500 streak at risk as AI trade takes another leg lower", "summary": "The S&P 500 fell 2.64% on June 5, its worst single-day decline since October, as a broad sell-off in AI-related stocks dragged markets lower. The decline puts the index's nine-week winning streak at risk, with a 10th consecutive gain—a feat not seen since 1985—now in jeopardy. A strong US jobs report drove expectations of prolonged elevated interest rates, sending two-year Treasury yields to 4.16% and triggering a global tech rout that included an 8.9% drop in Korean chipmaker SK Hynix.", "body_md": "# S&P 500 streak at risk as AI trade takes another leg lower\n\nThe index's bid for a 10th consecutive weekly gain, a feat not seen since 1985, hit a wall as AI stocks dragged markets into their worst session in months.\n\nThe S&P 500 dropped 2.64% on June 5, its worst single-day decline since October. The culprit: a broad and unforgiving sell-off in AI-related stocks that bled into nearly every corner of the market, including crypto mining equities.\n\nThat decline puts the index’s streak of nine consecutive weekly gains in serious jeopardy. A 10th straight week of gains would have been the first such run since 1985.\n\n## What happened and why it matters\n\nThe Nasdaq Composite took it even harder, falling 4.18% in what amounted to its ugliest session since April 2025.\n\nThe catalyst was, ironically, good news. A robust US jobs report shifted expectations around monetary policy, making it increasingly likely that interest rates stay elevated for longer than markets had priced in. US two-year Treasury yields surged 12 basis points to 4.16%, a move that hits growth stocks like a cold shower.\n\nThe damage was global. Korean chipmaker SK Hynix, a key supplier in the AI hardware supply chain, plunged 8.9%. The broader Kospi index fell 5.3%, underscoring that this was not a US-only phenomenon.\n\n## Crypto miners caught in the crossfire\n\nThe sell-off didn’t stay confined to traditional tech. Bitcoin miners with significant AI exposure, including Hut 8 and CleanSpark, saw double-digit declines in their share prices as their equities tracked the broader market downturn.\n\nBitcoin itself showed a brief moment of decoupling, ticking higher even as equities cratered. But the broader risk-off sentiment eventually weighed on digital asset markets as well.\n\n## What this means for investors\n\nRising Treasury yields also matter for crypto in a more fundamental way. When risk-free rates climb, the opportunity cost of holding non-yielding assets like Bitcoin increases. At 4.16% on the two-year, it’s meaningful enough to influence allocation decisions at the institutional level.\n\n**Disclosure:** This article was edited by Editorial Team. For more information on how we create and review content, see our\n\n[Editorial Policy](https://cryptobriefing.com/editorial-policy/).", "url": "https://wpnews.pro/news/s-p-500-streak-at-risk-as-ai-trade-takes-another-leg-lower", "canonical_source": "https://cryptobriefing.com/sp500-streak-risk-ai-trade-lower/", "published_at": "2026-06-06 12:48:34+00:00", "updated_at": "2026-06-06 13:23:08.078373+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-chips", "ai-infrastructure"], "entities": ["S&P 500", "Nasdaq Composite", "SK Hynix", "Kospi", "Hut 8", "CleanSpark"], "alternates": {"html": "https://wpnews.pro/news/s-p-500-streak-at-risk-as-ai-trade-takes-another-leg-lower", "markdown": "https://wpnews.pro/news/s-p-500-streak-at-risk-as-ai-trade-takes-another-leg-lower.md", "text": "https://wpnews.pro/news/s-p-500-streak-at-risk-as-ai-trade-takes-another-leg-lower.txt", "jsonld": "https://wpnews.pro/news/s-p-500-streak-at-risk-as-ai-trade-takes-another-leg-lower.jsonld"}}