The Dow Jones Industrial Average lost 696.75 points, or 1.63%, to close at 41,938.45. The S&P 500 slid 1.54% to 5,827.04, while the Nasdaq Composite fell 1.63% to 19,161.63. Friday's losses pushed the major benchmarks into the red for 2025.

"I think really the market is saying maybe no rate cuts in 2025, and that the 10-year could very easily break well above 5%," Jeremy Siegel said.

Dow Jones futures dropped 350 points Friday on a strong December jobs report. Nvidia sold off on new AI chip limits.

The Dow fell 600 points on Friday morning after new job reports surpassed expectations, and the Federal Reserve indicated that interest rate cuts may be postponed. Additionally, inflation remains a concern and is anticipated to stay high.

U.S. stock futures quickly tumbled after the government said U.S. employers added a stronger-than-expected 256,000 jobs in December. Economists were expecting hiring to increase by 153,000. Futures for the S&P 500 fell 0.

U.S. stock futures fell on Thursday night as investors anxiously await the release of new economic data on Friday. The moves come as Wall Street is gearing up for December's nonfarm payrolls reading,

US stocks plunged on Friday following a stronger-than-expected jobs report, tempering Wall Street’s hopes for additional interest rate cuts by the Federal Reserve in the near term. The Dow Jones Industrial Average sank by 592 points,