U.S. stocks fell sharply Friday, with the Nasdaq Composite down more than 2% as investors sold tech shares after a hotter-than-expected jobs report pushed Treasury yields higher.
Broadcom 
AVGO fell about 5% after sliding in the previous session on earnings. Its weakness helped extend pressure across semiconductors and other AI-linked names.
The Nasdaq Composite Index was on track for a third straight decline and its worst one-day percentage drop since March 26. The S&P 500 Index was also lower and headed toward its first weekly loss in nine weeks, while the Dow Jones Industrial Average slipped by triple digits.
Higher yields tend to hurt richly valued growth stocks because they reduce the appeal of future earnings. The tech selloff added to that pressure, leaving the market focused on rate expectations and whether the latest labor data changes the Federal Reserve outlook. That also reduced hopes for a near-term rate cut.
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