The tech-heavy Nasdaq led losses on Thursday. Angela Weiss/AFP/Getty Images New York —

US stocks tumbled Thursday as concerns mounted about expensive tech stocks and a risk-off sentiment spread through markets after new data showed a bleak outlook for the job market.

The Dow was down 507 points, or 1.07%. The broader S&P 500 fell 1.16%. The tech-heavy Nasdaq Composite slid 1.84%.

A wide range of tech and AI stocks fell, continuing a recent patch of volatility amid concerns about expensive valuations and nerves about a bubble.

Chipmaker Advanced Micro Devices ( AMD ) slumped 7%. Palantir ( PLTR ) fell 5.5%. Nvidia ( NVDA ) fell 3%.

Wall Street’s fear gauge, the VIX, jumped 12%. CNN’s Fear and Greed index hovered in “extreme fear.”

Legendary investor Warren Buffett’s fa

See Full Page