After rates spiked due to a much hotter-than-expected jobs report, which presumably suggests the Federal Reserve will end its rate-cutting campaign, stock futures fell.
Futures on the S&P 500 fell 1%, while those on the Nasdaq-100 fell about 1.2%. The Dow Jones Industrial Average fell 336 points, or about 0.8%, in futures linked to the index.
Wall Street reacted negatively to the most recent nonfarm payrolls data, which revealed that employment growth was far more than expected.
In contrast to the 155,000 gain that analysts surveyed by Dow Jones predicted, U.S. payrolls increased by 256,000 in December. Throughout the month, the unemployment rate dropped to 4.1% from its forecasted 4.2%.
Source (CNBC)