The Economic Times

Wall Street falls sharply as strong US jobs data sparks tech selloff and revives rate concerns

Wall Street experienced its worst single-day decline in over a year on Friday, as investors fled technology stocks, bonds, and gold. A robust May jobs report fueled concerns about potential year-end interest rate hikes, ending a nine-week advance for the S&P 500. Despite the selloff, analysts anticipate a market rebound due to strong tech earnings and a positive economic outlook.