On Friday, MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 1.1%

Asian shares pulled back from record highs on Friday amid ‌worries ​about shrinking margins in the tech sector.

On Friday, MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 1.1%, trimming this week’s gain to 3.7%. Nikkei slid 1.3%, but was still up nearly 5% for the week.

Chinese blue chips declined 0.9% while Hong Kong’s Hang Seng index slipped 2.1%.

Nasdaq futures and S&P 500 eased 0.2%, while EURO STOXX 50 futures edged up ⁠0.1%.

In currency markets, the risk-sensitive Australian and New Zealand dollars took a step back. The Aussie slid 0.2% to $0.7071, having shed 0.5% overnight, while the kiwi eased 0.1% at $0.6029, after sliding ⁠0.3% overnight.

Meanwhile, the broad selloff in stocks pushed buyers towards U.S. Treasuries, with the yield on the benchmark 10-year note dropping 7 basis ⁠points overnight, its biggest decline since October 10. It was steady in early Friday trade at 4.1134%.

A very strong auction of the 30-year bonds helped drive longer-term yields lower. 30-year yields plunged 8.5 basis points overnight to ​4.728%, its lowest since December 3.

Fed funds futures also rallied to reverse most of the losses after the payrolls data that led markets to pare back the chance of ⁠a rate cut in June. A move in June is now back in play, with the chance priced at 70%, and a total easing of 60 basis points is expected this year.

Even an in-line result would reflect a meaningful deceleration from December and that could bolster animal spirits and spark energy back into the cyclical trade, said Jose Torres, a senior economist at ⁠Interactive Brokers.