Stock market today: Dow plunges 697 points after jobs report hits rate-cut bets

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• US stocks fell on Friday after a strong December jobs report reduced hopes for Fed rate cuts in 2025.
• The economy added 256,000 jobs in December, surpassing expectations and lowering the unemployment rate to 4.1%.
• Higher bond yields may lead to a stock market correction.

US stocks plunged on Friday after a strong December jobs report dashed investor hopes of more interest rate cuts from the Federal Reserve this year.

The Dow Jones plunged 697 points...