The eight other times the Dow closed more than 600 points lower all took place in the last 18 years. The index has lost 3.9 per cent since hitting a record high a week ago.
The S&P 500 fell 59.85 points, or 2.1 percent, to 2,762.13, and the tech-heavy Nasdaq composite index dropped 144.92 points, or 2 percent, to 7,240.95. The yield on the 10-year Treasury note, a benchmark for interest rates on many kinds of loans, including mortgages, climbed to 2.84 per cent, the highest level in roughly four years. The 3 percent yield is looked at as a key threshold that can drive investors out of equities and into bonds. The dollar gained on expectations of moreFederal Reserve interest rate hikes, while oil prices slid. The government's latest job and wage data stoked those concerns Friday. Investors said the drop could be a sign of the market returning to more typical periods of peaks and troughs after abnormally calm conditions previous year.
"It's a legitimate concern, when inflation spikes up a little bit, that people should evaluate how is this going to affect profits and how is this going to affect the Fed", said Jonathan Golub, chief US equity strategist at Credit Suisse. The tandem selling accelerated after Dallas Fed President Robert Kaplan suggested officials may need to hike more than three times this year to cool the advance.
USA employers added a robust 200,000 jobs in January, slightly above market expectations for a 185,000 increase.
Japan's 10-year yield dipped one basis point to 0.086 percent.
Friday's significant market dent comes after a week-long downwards spiral. The company's stock dropped 5.3 percent on the back of the report.
"It's appealing, these 2 to 3 per cent pullbacks", said Thooft, who had been trimming some of his stock holdings after the market's big January gains.
That's good news for Main Street USA, but not for Wall Street.
"This is a continuation of weakness we saw earlier this week", Schulze said". "I think that is a bit much for the stock market to handle".
"The fundamentals are still OK", said Patrick O'Hare, chief market analyst at the investing website Briefing.com. "It's not something that is very surprising, given the low amount of volatility that we saw in 2017".
Some investors called the tail-end of the bull market a "melt-up" - with United States shares continuing to rise despite looking overpriced by traditional yardsticks, warning it was a last hurrah before a downward correction or crash. "We don't really expect a bear market unless there is a turn in the economy, which we are not seeing right now".
One bright spot was Amazon, which rose 4.1 per cent after the online retailer reported a record profit of about $2 billion due to strong sales and tax law changes.
Traders and financial professionals work on the floor of the New York Stock Exchange on January 31, 2018.
All of the S&P 500 companies together are expected to show earnings of about $155 per share this year in aggregate, up about $9 since December 20, Thomson Reuters' estimates show. "You usually have a correction of that magnitude every 90 to 120 days".
Margraves explained that he did not know in advance what his daughters were going to say in court and was overcome with emotion. An online fundraising page at the website GoFundMe had collected more than $9,000 for Margraves' potential legal fees by 3 pm.
He said in Shillong , "You will not see him (the PM) hug a poor person, talk to a poor person or even engage with a poor person". In 2015, taking potshots at Mr Modi's "expensive" suit, Mr Gandhi had called the government a "suit-boot ki sarkar".
Detroit Pistons center Andre Drummond has been added to the NBA All-Star Game , replacing injured Washington guard John Wall . Wall was initially named as a reserve for Team LeBron but will be out six to eight weeks due to a knee injury.
The one-hour meeting in Edmonton's Federal Building ended without public word of what the consequences will be for B.C. The mayor added the environmental regulations should have been put in place a long time ago, by the B.C.
These collars enabled researchers to understand the movements, behaviors, and foraging success of polar bears on the sea ice. Five populations are thought to be stable and there's not enough known about the others to judge.
Authorities on Monday announced charges against eight people, some of whom had been employed by HSBC, Deutsche Bank and UBS. Deutsche Bank was fined $30 million (?24 million), while UBS agreed to pay $15 million and HSBC took a $1.6 million hit.
The ban on Russian Federation competing at the 2018 Winter Paralympics has been upheld by the International Paralympic Committee. The latest IPC ruling is similar to the decision of the International Olympic Committee (IOC) last month.
The Switch, released in March 2017, flew off shelves at home and overseas through the critical year-end shopping season. That already exceeds sales of 13.56 million consoles for the Wii U that was on the market from late 2012 through 2017.
The Terriers were very negative from the off, played five at the back, and rarely looked like causing the Reds any problems. Without the Algerian, Leicester lost 2-1 to Everton in Wednesday's top-flight encounter at Goodison Park.
The "inauguration" was meant as a protest against President Uhuru Kenyatta's new term after months of deadly election turmoil. Authorities appear to have opted for a media blackout of the event rather than deploy police to stop or disperse the meeting.
Monday night was a step in the right direction, though, as Tatum scored 20 points for the first time since Christmas Day. Going into halftime, the Celtics led 56-45 behind strong transitional defense and consistent scoring.
Flu activity on the rise across US — CDC
Since 2009, Rush has conducted year-round planning for every flu season, which has helped mitigate its burden, Segreti said. A Centers for Disease Control and Prevention report released Friday confirmed that the flu season continues to intensify.
897 militants 'neutralized' so far in Afrin op
On Jan. 20, the Turkish Armed Forces, together with the Free Syrian Army, launched the Operation Olive Branch in Afrin, Syria. Prime Minister Binali Yildirim said 82 rockets had been fired by the Kurdish YPG militia into Turkey over the past 12 days.
YouTube TV Arrives On Roku Devices
The search giant's YouTube TV service is quite intriguing thanks to its paltry $35 monthly fee (often much less than cable TV). Back in October, YouTube TV announced dedicated clients for smart televisions, gaming consoles, and other streaming devices.
Syria developing new types of chemical weapons
The United States is concerned that sarin gas was recently used in Syria, US Defence Secretary Jim Mattis said today. Nearly all independent analysts and investigators agree the Syrian regime is the culprit of the chemical attacks.
Love likely out 6-8 weeks
This team can beat anybody in the East and the game against the Cavs has likely been circled on their calendar for some time . With nine field goals, James (10,924) passed Dirk Nowitzki (10,917) and moved into eighth place on the NBA's all-time list.
Fisher to un-retire, join Predators for playoff push
That announcement came after Fisher spent the morning skating in full Predators gear on Wednesday morning at Bridgestone Arena. Fisher shocked fans by telling them he'd be hanging up his skates after a solid 17 years in the National Hockey League .
Irish busker says appearing on The Ellen Show was 'amazing'
Allie also met acclaimed rapper and producer Pharrell Williams on the set of the show , which she said was "pretty cool". Allie told The Ray D'Arcy Show on RTÉ Radio 1the popular host helped her get past her nerves before her appearance.