The U.S. stock market had its worst day since October, as a massive sell-off of large tech company stocks dragged down the market as a whole.
Bond yields soared as a solid jobs report boosted expectations that the Federal Reserve will be forced to raise interest rates at some point this year.
The S&P 500 fell 2.6% on Friday, ending its first losing week in the last 10. The Dow Jones Industrial Average fell 695 points, or 1.4%. The Nasdaq Composite fell 4.2%. Nvidia and Broadcom were among the companies with the most weight in the market.
The Department of Labor reported that employers added 172,000 jobs in May, approximately double what forecasters had predicted. Oil prices fell.
