Shares of Rigetti Computing (RGTI) experienced a sharp decline in Tuesday's trading session, plummeting 10.09% as investors reacted to disappointing second-quarter results and growing macroeconomic uncertainties. The quantum computing company's stock price movement significantly underperformed the broader market, with the S&P 500 and Nasdaq Composite also trading lower.

Rigetti's recent Q2 report revealed concerning financial metrics that likely contributed to the sell-off. The company reported revenue of $1.8 million, representing a substantial year-over-year decline of approximately 42%. Moreover, Rigetti's net loss widened dramatically to nearly $40 million, highlighting the challenges faced by the quantum computing firm in its path to profitability.

Adding to the downward pressure on Rigetti's stock were broader economic concerns. Recent data showing softer job numbers and higher-than-expected inflation have increased investor anxiety, particularly impacting high-risk assets like quantum computing stocks. As a result, many investors appear to be reducing their exposure to speculative technology companies, contributing to Rigetti's significant stock price decline.