Dow ends down almost 700 points as jobs report sparks jump in Treasury yields

The U.S. stock market ended sharply lower Friday, in a broad selloff that saw the Dow Jones Industrial Average fall almost 700 points.

The Dow dropped 696.75 points, or 1.6%, to close at 41,938.45.

The S&P 500 slumped 91.21 points, or 1.5%, to finish at 5,827.04.

The Nasdaq Composite dropped 317.25 points, or 1.6%, to end at 19,161.63.

The report, which showed the U.S. economy added more jobs in December than economists forecast, sparked a a jump in Treasury yields. The yield on the 10-year Treasury note climbed Friday to 4.772%, the highest level since Nov. 1, 2023 based on 3 p.m. Eastern time levels, according to Dow Jones Market Data.