U.S. stock markets plummeted sharply today, with the Nasdaq Composite plunging by 4%, marking its worst day in over a year. The significant decline was largely driven by a massive sell-off in the chip sector, leading to fears of a tightening monetary policy following a strong jobs report that boosted expectations for interest rate hikes by the Federal Reserve. Major tech stocks, including leading names in AI and semiconductors, faced heavy losses, which contributed to a broader downturn across the S&P 500 and Dow Jones indexes. Analysts suggest that the strong employment data has eliminated hopes for rate cuts this year, prompting traders to flee from riskier investments.