DOW DOWN 400 POINTS ON STRONG JOBS DATA
Strong US Jobs Data pushed up bond yields further boosting chances of more interest rate hikes this year, leading the S&P and Dow towards their worst week in two years. According to Reuters, The Dow Jones Industrial Average dropped more than 400 points, with 10 of the 11 major S&P sectors in the red, led by the energy index’s 3.49 percent fall. Non farm payrolls rose by 200,000 jobs in January, the Labor Department said, beating expectation of 180,000. Average hourly earnings rose and boosted the year-on-year increase to 2.9 percent, the largest rise since June 2009.