Richard Drew/AP
- Stock futures fell Friday after the blowout September jobs report sent US bond yields soaring.
- Last month, 336,000 new positions were added, well above estimates for 170,000.
- Bonds extended their sell-off, with the 10-year Treasury yield jumping as much as 14 basis points.
US stocks fell Friday as the September jobs report came in much stronger than estimated, blunting hopes for a more dovish Federal Reserve.
The Labor Department reported that 336,000 new jobs were added, well above forecasts for 170,000. However, wage growth did slow, and unemployment held at 3.8%.
The report added fire to the ongoing Treasury market sell-off, causing the 10-year yield to spike as much as 14 basis points to 4.85% before easing back a bit. Meanwhile, the 30-year bond rate surged past 5%.