Stocks are getting slammed for a 2nd straight day

  • US equity markets were under pressure Friday after a solid jobs report indicated the unemployment rate in September fell to 3.7%, its lowest since 1969.
  • Traders continue to watch the bond market closely, as the 10-year hit 3.24%, its highest since 2011.
  • Tesla shares were hit hard after Elon Musk took a swipe at the Securities and Exchange Commission on Twitter and the hedge fund billionaire David Einhorn compared the company to the failed US bank Lehman Brothers.

US equity markets were hit hard for a second straight day Friday, with all of the major averages sporting losses of at least 1% at their lows. Heavy selling pushed the tech-heavy Nasdaq down by as much as 2.1%.

Friday’s weakness comes after the Bureau of Labor Statistics said the US unemployment rate in September fell to 3.7%, its lowest since 1969.

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