Equity bulls were hoping for a payrolls number that was not too hot and not too cold. However, a notably stronger-than-expected report is pushing Treasury yields to fresh multi-month peaks and forcing equity index futures lower.

Shares of quantum-computing companies that skyrocketed in 2024 collapsed by double digits Wednesday after Nvidia CEO Jensen Huang said practical uses for quantum computing were more than a decade away.

The quantum computing rally came to an abrupt end on Wednesday following comments from Nvidia CEO Jensen Huang. During a question-and-answer session with analysts, Huang put forth a more pessimistic view of the quantum computing timeline: