The moves come as Wall Street is gearing up for December's nonfarm payrolls reading, which is scheduled to come out at 8:30 a.m. ET on Friday. Economists polled by Dow Jones expect to see an increase of 155,000, less than the gain of 227,000 in November's reading. Additionally, the unemployment rate is projected to remain at 4.2%.

U.S. stock futures quickly tumbled after the government said U.S. employers added a stronger-than-expected 256,000 jobs in December. Economists were expecting hiring to increase by 153,000. Futures for the S&P 500 fell 0.

Stocks dropped on Friday after a hot jobs report dampened Wall Street's expectations for more interest rate cuts from the Federal Reserve this year. The Dow Jones Industrial Average lost 696.75 points,

Stock markets mostly retreated and the dollar steadied Friday as traders awaited key US jobs data for signals on the health of the world's largest economy and the outlook for

Equities fell Friday as traders prepared for the release of US jobs data that could play a key role in the Federal Reserve's decision-making on interest rates, with several officials