New York CNN —
US stocks slid Friday as investors digested a better-than-expected jobs report that soured expectations of future rate cuts from the Federal Reserve.
The Dow dropped by more than 500 points, or 1.2%; while the S&P 500 fell by 1.1% and the tech-heavy Nasdaq index was lower by 1.2%.
At one point in morning trading, the Dow shed about 750 points and the Nasdaq fell by more than 2% before recovering losses.
The selloff comes as the economy added 256,000 jobs in December, far outpacing expectations of around 153,000 jobs.
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