Wall Street suffered its worst rout since June 2016 on Friday night as another sharp climb in long bond yields following a strong January non-farm payrolls report seemingly rattled equity and bond investors alike - Dow tumbled -666-points or -2.54%, with all 30 Dow components finishing in the red. The broader S&P500 fell -2.12%, with Energy (down -4.1%) leading all 11 sectors lower to see the index post its worst single session performance since September 2016. The technology-centric NASDAQ fell -1.96%, with Apple Inc (down -4.34%) hitting its lowest level since October last year and the fall marking the stock's first official correction (i.e. a decline of between 10% and 20%) in 15-months. However, Amazon.com Inc bucked the weaker trend with a +2.87% gain. The US dollar arrested a three session slide, with the dollar index rising +0.63% to 89.194 and its biggest daily gain since late October last year. For the week, the Dow fell 1,096 points - the biggest weekly points decline since 10 October, 2008 - or -4.12%; S&P500 -3.85%, with all 11 sectors posting a weekly decline for the first time since November 2016; and the Nasdaq -3.53%. Both the Dow and S&P500 recorded their biggest weekly decline since the week ended 8 January 2016, while it was the Nasdaq's worst weekly performance since 5 February 2016.
