Data compiled by Woofun AI shows the Nasdaq Composite retreated 1.09%, reversing early gains as major technology equities faced significant selling pressure. Alphabet shares plummeted over 6% and Amazon declined more than 4.5%, while Meta dropped nearly 3%. This broad-based pullback suggests investors are engaging in profit-taking following earlier strength in artificial intelligence-themed assets.

The market correction was exacerbated by robust non-farm payroll figures, which intensified expectations that the Federal Reserve may maintain elevated interest rates or implement further hikes.

Concurrently, the strengthening U.S. dollar exerted downward pressure on high-valuation growth stocks. Aerospace equities also suffered sharp declines, with Redwire down 8.24%, SpaceX falling 8.92%, and Rocket Lab dropping 7.10%, as investors await Thursday's PCE inflation data.