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 nearly 700 points, or 1.6%; while the S&P 500 fell by 1.

Yields for the 10-year Treasury shot up Friday to their highest level since 2023, putting pressure on stock valuations.

The Dow Jones Industrial Average ( ^DJI) slipped roughly 0.5%, while the S&P 500 ( ^GSPC) shed 0.6%. The tech-heavy Nasdaq Composite ( ^IXIC) fell 0.9%, leading declines as the major gauges set up weekly losses.