Wall Street stocks soured Friday and Treasury yields saw a sharp drop after the government reported last month’s hiring slowdown, according to the Associated Press.
The S&P 500 lost 1.6% — a shift for the index, which hasn’t dropped by more than 1% since June and is also on track for a weekly loss after a record-setting streak last week.
The Dow Jones Industrial Average slipped 1.3%, and the Nasdaq fell 2%.
The yield on the 10-year Treasury dropped to 4.25% from 4.39%, marking a big move for the bond market. The yield on the two-year Treasury, meanwhile, plunged to 3.75% from 3.94%.
Internet retail giant Amazon slipped 7.5% despite reporting promising profit and sales for the second quarter of the year.
Apple fell 1.6% after likewise beating Wall Street’s profit and revenue forecasts.
Exxon Mobil lost 1.7% after reporting profit that hit a four-year low as oil prices slumped and OPEC+ increased production.
