Investors sold off stocks, bonds, bitcoin and gold Friday after a strong jobs report boosted odds the Federal Reserve might raise interest rates later this year to combat inflation and Wall Street wrestled with weakness in AI stocks.

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

The selloff in shares of companies tied to AI looked poised to continue, with a swath of companies declining premarket, though Dow futures were up.