Tech firms led stock losses on Friday as investors struggled to shake off fears about an AI bubble and after a sell-off on Wall Street sparked by jobs data dealt a further blow to hopes for a US interest rate cut.

A blockbuster earnings report from chip bellwether Nvidia on Wednesday seemed to settle nerves that vast investments in the artificial intelligence sector may have been overdone.

But the euphoria was short-lived as warnings grow that the tech-led rally across equities -- which has seen several markets hit records and companies clock eye-watering capitalisations -- may have run its course, and a correction could be in hand.

In unveiling Nvidia's forecast-topping report, boss Jensen Huang dismissed fears of a bubble that has caused global equities to wobble.

"From our vantage p

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