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.

Quantum computing stocks took a dive Wednesday after investors' perceptions about the outlook for the sector were dramatically corrected. Valuations in the nascent space had been