Friday turned out to be a tough day for the U.S. stock market, with a broad selloff pulling down major indices significantly. The Dow Jones Industrial Average took a notable hit, plummeting close to 700 points.
By the day’s end, the Dow had slid 1.6%. The S&P 500 wasn’t far behind, losing 1.5%, while the Nasdaq Composite, known for its tech-heavy composition, also dipped by 1.6%. These figures, provided by FactSet’s preliminary data, show that all three indices are facing consecutive weeks of decline. Investors are reacting to a jobs report that surpassed Wall Street’s expectations, adding to the market’s unease.
Over in the bond market, the reaction was palpable as well. Treasury yields saw an uptick Friday, following the unexpectedly strong employment numbers. The 10-year Treasury note’s yield reached 4.772%, marking its highest level since November 1, 2023, based on the 3 p.m. Eastern time figures from Dow Jones Market Data.
Looking at the week overall, the numbers show a consistent downturn. The Dow, S&P 500, and Nasdaq fell by 1.9%, 1.9%, and 2.3% respectively, according to those initial findings from FactSet.
