Market Highlights

Another burst of heavy selling pummeled software stocks and crypto, with weak jobs data exacerbating an equity rout spurred by concern over the impact of artificial intelligence on valuations. Bitcoin took one of its biggest tumbles yet. In late hours, Amazon.com Inc. plunged after its results. Stocks extended a slide from near-record levels, with the S&P 500 falling 1.2%. The Nasdaq 100 saw its worst three-day rout since April’s meltdown. The most-popular digital token tumbled to around $63,000 in a selloff that cut its value by nearly half since October. Treasuries climbed, sending two- year yields to the lowest level this year. Silver plummeted about 20%. A selloff in equities showed signs of easing as Friday’s session progressed, suggesting selling pressure was starting to abate after steep declines in US tech stocks. Precious metals also stabilized after a volatile start.