An unexpectedly strong May jobs report bolstered bets that US rates are poised to rise, knocking some wind out of the highest-flying tech stocks.

Stocks are sinking on Wall Street as big technology companies lost ground and weighed down the broader market

US markets opened mixed as tech-heavy Nasdaq and S&P 500 fell, dragged by weakness in chip stocks after a recent rally. Strong jobs data reinforced expectations of tighter Federal…