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.

Quantum stocks like Rigetti, IonQ and D-Wave Quantum saw steep losses after Nvidia CEO Jensen Huang said quantum computers are decades away.

Rigetti Computing is at the forefront of the quantum computing industry, but the company has a speculative stock valuation.