Archiving scheduled emails cannot be done in bulk. Archiving scheduled emails in bulk do not change the publish status.
Figure 1.

The emails will go to the Archived Folder as scheduled and therefore sent out with at the scheduled time. In other words, there is no option to cancel the send. Figure 2.

Best Practices:

1. Individually delete the scheduled emails permanently. Figure  3.
2. If you may use the content again: archive each email individually, making sure you check the box “Archive and Cancel Send” Figure 4.