Tech Selloff Ends Nine-Week S&P Rally, Nasdaq Falls 4.5%
A stronger-than-expected jobs report sparked fears of prolonged high rates, prompting a sharp tech selloff that snapped the S&P 500’s nine-week winning streak with a 2.6% weekly drop. The Nasdaq tumbled 4.5%—its biggest one-day fall since April 2025—while semiconductor and AI stocks led the decline.