Strong Jobs Report Douses Rate-Cut Hopes; Zebra, PAR, Mirion Slide

The U.S. economy added 172,000 nonfarm payroll jobs in May 2026, surpassing the 85,000 forecast, while unemployment held at 4.3%. The robust data quelled expectations for imminent Federal Reserve rate cuts, triggering a selloff in growth-dependent technology shares. Zebra Technologies (ZBRA) fell to $231.81, extending its 2026 decline to 6.6% and leaving the stock 32.1% below its August 2025 peak. The enterprise hardware firm is highly sensitive to corporate spending cycles, which weaken when high interest rates raise financing costs and compress valuations. PAR Technology and Mirion Technologies also traded lower in the broad retreat.