Tech Stocks Sink as Strong Jobs Data Signals More Rate Hikes

Shares of the 7 biggest tech stocks traded lower after stronger-than-expected jobs data on Friday.

The data seemed to dash hopes that the Fed may soon end its policy of interest rate hikes.

Apple, Microsoft, Alphabet, Amazon, Meta, Tesla, and Nvidia all saw losses after the data was released.

S&P 500 and Nasdaq 100 ETFs also dropped after being up slightly before the data.

Strong jobs data weighed on equity valuations as it points to more Fed rate hikes.