The stock market had its worst day since May after the government reported a sharp slowdown in hiring and President Donald Trump imposed sweeping tariffs on imports from a number of U.S. trading partners.

The S&P 500 fell 1.6% Friday, and the Dow Jones Industrial Average dropped 1.2%. The Nasdaq composite lost 2.2%.

The surprisingly weak hiring numbers led investors to step up their expectations for an interest rate cut in September and sent Treasury yields sharply lower in the bond market. The new set of tariffs are set to go into effect Aug. 7.

On Friday:

The S&P 500 fell 101.38 points, or 1.6%, to 6,238.01.

The Dow Jones Industrial Average fell 542.40 points, or 1.2%, to 43,588.58.

The Nasdaq composite fell 472.32 points, or 2.2%, to 20,650.13.

The Russell 2000 index of smaller companies fell 44.87 points, or 2%, to 2,166.78.

For the week:

The S&P 500 is down 150.63 points, or 2.4%.

The Dow is down 1,313.34 points, or 2.9%.

The Nasdaq is down 458.18 points, or 2.2%.

The Russell 2000 is down 94.29 points, or 4.2%.

For the year:

The S&P 500 is up 356.38 points, or 6.1%.

The Dow is up 1,044.36 points, or 2.5%.

The Nasdaq is up 1,339.34 points, or 6.9%.

The Russell 2000 is down 63.38 points, or 2.8%.

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