Wall Street reversed earlier gains that were driven by a relief rally on Nvidia's earnings beat on Thursday, as a mixed employment report diminished hopes for further easing by the U.S. Federal Reserve this year. All three major U.S. stock indexes turned lower led by weakness in artificial intelligence-related momentum stocks, dragging tech-heavy Nasdaq down most. Benchmark Treasury yields dipped and bitcoin tumbled, offering further signs of market participants' souring risk appetite.

But jitters over inflated tech valuations resurfaced as the session progressed. Chipmaker and AI darling Nvidia posted its hotly anticipated results after Wednesday's closing bell, delivering consensus-beating earnings and stronger-than-expected forward guidance, which initially soothed fears over inflated

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