Market Turmoil: Tech Stocks Plunge Amid Weak Jobs Report

Wall Street faced another rough day as technology stocks, including Broadcom and Nvidia, saw significant declines following a weak U.S. job market report. The S&P 500 dropped 1.7%, while the Dow Jones fell by 410 points. The report raised questions about Federal Reserve rate cuts, causing volatility in Treasury yields.

Wall Street faced another rough day on Friday, with technology stocks such as Broadcom and Nvidia leading the decline, following a weak update on the U.S. job market. This triggered broad market drops, with the S&P 500 experiencing a 1.7% decline and the Dow Jones Industrial Average falling by 410 points.

The jobs report revealed that U.S. employers hired fewer workers in August than anticipated, leading to increased concerns over the economy's stability. Analysts say this could influence the Federal Reserve's upcoming decisions on interest rate cuts, further adding to market volatility.

Treasury yields fluctuated sharply as the data led investors to speculate on the Fed's next move. Despite Friday's downturn, some analysts advised against panic, noting that the broader market remains relatively strong for the year.

(With inputs from agencies.)