U.S. stock markets experienced a downturn as concerns grew that positive developments in the labor market could negatively impact Wall Street by sustaining high inflation and interest rates.

On Friday, the S&P 500 index declined by 1.5%, while the Dow Jones Industrial Average and the Nasdaq composite both fell by 1.6%.

The stock market’s descent mirrored movements in the bond market, where rising yields intensified concerns following a report indicating that U.S. employers added significantly more jobs last month than anticipated by economists. Such robust employment figures could exert continued upward pressure on inflation, making it less likely for the Federal Reserve to implement any cuts to interest rates in the near future.

On that particular Friday:

The S&P 500 dropped 91.21 points, or 1.5%, finishing at 5,827.04.

The Dow Jones Industrial Average saw a decline of 696.75 points, or 1.6%, closing at 41,938.45.

The Nasdaq composite fell by 317.25 points, or 1.6%, ending the session at 19,161.63.

The Russell 2000 index, which tracks smaller companies, decreased by 49.73 points, or 2.2%, settling at 2,189.23.

Looking at the weekly performance:

The S&P 500 fell by 115.43 points, or 1.9%.

The Dow lost 793.68 points, also a 1.9% drop.

The Nasdaq experienced a decline of 460.05 points, or 2.3%.

The Russell 2000 index recorded a greater loss of 79.24 points, which is 3.5%.

In terms of year-to-date figures:

The S&P 500 has decreased by 54.59 points, roughly 0.9%.

The Dow is down by 605.77 points, approximately 1.4%.

The Nasdaq has declined by 149.17 points, about 0.8%.

Lastly, the Russell 2000 index is down 40.93 points, or 1.8%.