New York (CNN) — US stocks fell 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 403 points, or 0.85%. The broader S&P 500 fell 0.9%. The tech-heavy Nasdaq Composite slid 1.44%.

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 ) slid 6.3%. Palantir ( PLTR ) fell 5.5%. Nvidia ( NVDA ) fell 3%.

Wall Street’s fear gauge, the VIX, jumped 11%. CNN’s Fear and Greed index hovered in “extreme fear.”

Legendary investor Warren Buffett’s favorite market indicator , which compares a measure of the total value of the US s

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