Review & Preview: Down Day

U.S. equity markets slipped on June 3 as the S&P 500 fell 0.7% and the Nasdaq dropped 0.9%, snapping recent gains. The Dow declined about 617 points (≈1.2%). Markets were pressured by oil’s rebound after rising tensions between the U.S. and Iran and by weakness in big-cap tech — notably Nvidia, Amazon, Microsoft and Apple — which weighed on benchmarks. Tariff proposals from the U.S. administration added policy uncertainty. Offsetting some downside, ADP reported 122,000 private payroll additions in May, broadening job growth and supporting expectations that the Fed will likely remain on hold at its June 16–17 meeting. Overall, the piece is a market overview highlighting near-term geopolitical and policy risks versus resilient labor data.