“Overheated economy” —meh..!
I think most of this is driven by the ENORMOUS political chit-storm now seen as looming.
A system that punishes doddering WW2 vets trying to visit Dc memorials during the previous Gummint Shutdown, a system that puts illegal aliens b4 Americans:
Would they sink the stock market..?
They will try their hardest.
Fwiw, this is not the first time we have seen a good jobs report slam the Dow. As now companies will begin to need to compete for labor.