NEW YORK, June 5 (Reuters) - Wall Street's nine-week winning streak came to an abrupt end on Friday, pressured by a slide in technology stocks which posted their biggest daily drop this year after a strong May jobs report raised concerns that the Federal Reserve is moving toward monetary tightening.

The sell-off was concentrated in shares of chipmakers and other favored technology companies that had seen a remarkable rise in the past few weeks, with the Nasdaq Composite and the Standard & Poor's 500 repeatedly climbing to new record highs.

The three major indexes closed sharply lower, with chipmakers' shares declining, pushing the Nasdaq, which includes major technology companies with a relatively heavy weighting on the index, to its biggest one-day loss since last year.

The S&P 500 also ended a nine-week winning streak, its longest weekly winning streak since December 2023.

"After the record high we've seen over the past nine weeks, especially in the technology and semiconductor sectors, the market collapsed today," said Ryan Detrick, senior market strategist at the Carson Group in Omaha.

He added, "Clearly, the stronger-than-expected jobs report puts the Federal Reserve in a difficult position regarding any interest rate cuts for the rest of the year. The market has vented its anger in the form of heavy losses for companies that have made the biggest gains so far this year."

According to preliminary data, the S&P 500 fell 199.64 points, or 2.63 percent, to close at 7,384.67. The Nasdaq Composite dropped 1,117.38 points, or 4.16 percent, to 25,713.58. The Dow Jones Industrial Average declined 684.53 points, or 1.33 percent, to 50,877.40.