Stocks slump as Big Tech sinks and a strong May jobs report boosts odds for higher interest rates

The US stock market had its worst day since October Friday as a sell-off in big technology companies weighed down the broader market and a strong jobs report boosted expectations that the Federal Reserve will be forced to hike interest rates at some point this year. The S&P 500 sank 2.6%, its biggest one-day drop since October 10, when the Trump administration threatened to impose a 100% tariff on imported goods from China. The losses helped push the benchmark index to its first losing week in t