U.S. Stocks React to Labor Market Data Shakeup

U.S. stock index futures experienced a downturn on Friday as investors reacted to March's nonfarm payrolls. The economy added 228,000 jobs, surpassing expectations, with an unemployment rate at 4.2%. Stock futures for the S&P 500, Nasdaq, and Dow all saw significant declines in early trading.

U.S. stock index futures declined on Friday morning, influenced by the latest nonfarm payrolls report for March, revealing insights into the economy's health. The Labor Department confirmed that 228,000 jobs were added last month, exceeding economists' forecasts of 135,000.

The unemployment rate was slightly above expectations at 4.2%, whereas economists anticipated a rate of 4.1%. Average monthly earnings grew by 0.3%, aligning with projections.

As of 08:31 a.m. ET, major U.S. stock futures faced downturns, with S&P 500 E-minis down 145 points, Nasdaq 100 E-minis down 540 points, and Dow E-minis dropping 1,094 points.

(With inputs from agencies.)