<div id="readability-page-1">What sparked the rout?: A stronger-than-expected U.S. jobs report raised the likelihood of Fed rate hikes, pressuring growth stocks and ending the S&amp;P 500's nine-week winning streak. How bad was it?: The Nasdaq fell over 4% Friday, while South Korea's KOSPI plunged more than 8% Monday, triggering circuit breakers and signaling global contagion. What's next?: Investors face a pivotal week with the SpaceX IPO, key inflation data, and corporate earnings likely to influence market direction.</div>

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<p>Tech stocks and global markets tumbled as a strong U.S. jobs report intensified expectations of Federal Reserve rate hikes, ending the S&P 500's nine-week winning streak. The Nasdaq dropped over 4%, while South Korea's KOSPI plunged more than 8%, triggering circuit breakers. Investors now face a pivotal week with key inflation data, corporate earnings, and the SpaceX IPO likely to influence market direction.</p>

- A stronger-than-expected U.S. jobs report increased the chances of Federal Reserve rate hikes, ending the S&P 500's nine-week winning streak.  
- The Nasdaq dropped over 4%, and South Korea's KOSPI fell more than 8%, indicating a potential global contagion.  
- Investors are poised for a significant week with the SpaceX IPO and important inflation data and corporate earnings that could impact market trends.

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Tech stocks tumble as Fed hike bets intensify