The stock market entered the final hour of trading on Friday deep in a hole in the wake of a too-hot December jobs report.
The Dow was down 640 points, or 1.5%. The S&P 500 was down 1.3%. The Nasdaq Composite was down 1.4%.
Wall Street was selling stocks across the board in the wake of rising bond yields as market participants pulled back expectations for interest-rate cuts this year. Higher-than-expected inflation expectations from a University of Michigan survey turned a bad day into a selloff.
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