Stocks opened lower on Friday after strong U.S. jobs data sent bond yields spiking.
The Dow Jones Industrial Average was down 500 points, or 1.2%, shortly after the market opened. The S&P 500 was down 1.4%. The Nasdaq Composite was down 1.9%.
The yield on the 2-year Treasury note was up to 4.36%. The 10-year yield was up to 4.76%. The 30-year yield rose to 4.98%.
