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Here's your closing bell brief for Friday, June 5th. I'm Alexis Green for the Wall Street Journal.

A massive sell-off in tech stocks led the market lower today, as a hot jobs report raised fears of inflation.

Investors now worry the Federal Reserve will keep rates high into the future. Fast-growing tech

companies, like those tied to AI, tend to be particularly exposed to high rates, because high

bond yields decrease the value Wall Street assigns to companies' future profits. Intel finished down

11%, Marvel technology closed down nearly 17%, and micron technology ended 13% lower. Overall, the

NASDAQ sank 4.2%, closing out its worst week in more than a year.

The S&P 500 fell 2.6%, and the Dow dropped 1.4%. Among other individual companies, Lulu

Llemon shares fell nearly 9% after the athleisure company cut its financial outlook for the year,

citing negative commentary around the brand and a lackluster response to new products.

And Broadcom tumbled nearly 8%, continuing its slide after guidance fell short of investors' lofty expectations earlier this week.

Heads up, an artificial intelligence tool helped us make this episode by creating summaries that were based on WSJ reporting and then reviewed and adapted by an editor.

And we have a lot more coverage on the WSJ's What's News, listen and subscribe wherever you get your podcasts.

Enterprises are already creating efficiencies with agendic AI, particularly in areas like

finance, HR, and IT, says Jason Gerzadas, CEO of

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