Investors sold stocks, bonds, bitcoin and gold Friday after strong jobs data raised odds for Federal Reserve interest rate hikes, and Wall Street wrestled with weakness in AI stocks.

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.

A strong jobs report raised the likelihood that the Federal Reserve would raise interest rates this year.

Fears of an interest rate increase has unsettled investors

AI chip stocks lost $1.3 trillion in value as Nvidia, AMD and Micron plunged amid Broadcom concerns and fading hopes of US rate cuts.