By John Towfighi, CNN
Investors sold stocks, bonds, bitcoin and gold on Friday (US time), after strong jobs data raised odds for Federal Reserve interest rate hikes and Wall Street wrestled with weakness in AI stocks.
The S&P 500 fell 2.64 percent, its worst day since October. The index fell into the red for the week and snapped a nine-week winning streak.
The tech-heavy Nasdaq Composite fell 4.18 percent, its worst day since April 2025. The Dow, which has less exposure to tech, fell 695 points or 1.35 percent, its worst day in about three months.
Volatility in markets picked up during the week, as investors took profits from recent stock surges and digested shifts in expectations for Fed interest rates. Wall Street's fear gauge, the VIX, surged 40 percent and hit its highest level in two months.
