Apple WWDC, SpaceX IPO Face Headwinds as Inflation Fears Rattle Tech

Wall Street heads into a pivotal week battered by a near-5% Nasdaq plunge Friday — its worst single-session drop in a year — after stronger-than-expected May payrolls of 172,000 drove Treasury yields higher and snapped the S&P 500's nine-week winning streak. Investors are now bracing for Wednesday's CPI print, forecast at 4.2% year-over-year, and Thursday's PPI, which could cement bets on a prolonged or renewed Fed rate-hiking cycle. Apple's WWDC is a critical focal point, with markets scrutinizing AI progress on Apple Intelligence and Siri amid concerns the company is falling behind rivals. SpaceX's blockbuster IPO, targeting a $1.8 trillion valuation and $75 billion raise, arrives Friday as a high-stakes sentiment test.