Alibaba, JD.com among Chinese techs caught up in Friday's market swoon
Andrew Burton/Getty Images News

Chinese tech stocks such as Alibaba (NYSE:BABA), JD.com (NASDAQ:JD) and Tencent Holdings (OTCPK:TCEHY) ended the week with broad losses on what was largely a case of guilt by association in a market that slumped due to concerns about the state of the U.S. job market.
Before trading began, the Labor Department reported that the U.S. economy added 263,000 jobs, as opposed to expectations of 250,000 jobs. The unemployment rate also fell to 3.5%, and all that positive data actually conspired to raise concerns that the Federal Reserve may continue to raise interest rates in order to tamp down on inflation.
Alibaba (BABA) ended the day down by 3.6%, while JD.com (JD) fell 3.4% and Tencent (OTCPK:TCEHY) gave up almost 4% by the time the market closed for the week.
Among other Chinese Internet stocks, losses also cam from Weibo (WB), down almost 5% on the day; Bilibili (BILI), which fell nearly 4%; NetEase (NTES), down by 2% and Baidu (BIDU), which fell almost 2% Friday.
There was a cloud hanging Chinese companies, even though it didn't directly affect the Internet and e-commerce leaders.
On Friday, the Biden Administration imposed a slate of new restrictions on the export of semiconductor technology from the U.S. to China as part of an effort to keep such technologies from falling into the hands of the Chinese military. 
Semiconductor giant Nvidia (NVDA) said Friday that it didn't expect such restrictions to have a "material impact" on its business.