Current stock market news updates: As prospects for a Fed reversal are dashed by the jobs report, stocks plummet and Treasury yields rise.

After the government's monthly employment report revealed labour conditions remained tight last month despite a slowdown in hiring, U.S.

stocks crashed on Friday in their worst day since the depths of September's sell-off.

dash any hopes the Federal Reserve will veer off its aggressive rate hiking path.

Last month, the US economy created 263,000 new jobs, bringing the unemployment rate down to 3.5%.

According to consensus forecasts compiled by Bloomberg, economists anticipated a 255,000 increase in payrolls 

While the Dow Jones Industrial Average (DJI) lost 630 points, or 2.1%, the S&P 500 (GSPC) fell 2.8%. 


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In the most recent blow, UBS withdrew from a $3.4 billion Texas Muni deal