Stock futures fell early Friday as worrisome developments in Ukraine weighed on sentiment as investors digested latest reading on the jobs market.
Futures tied to the Dow Jones Industrial Average dropped 268 points, or 0.8%, to 33,470. Those for the S&P 500 declined 32 points, or 0.7%, to 4,327.25, while NASDAQ futures moved down 106.98 points, or 0.8%, to 13,924.50.
The Dow is down 0.9% for the week, on track for its fourth negative week in a row. The S&P 500 is down about 0.5% for the week, while the NASDAQ is down more than 1%.
The decline in futures followed reports that smoke was visible from a nuclear power plant in Ukraine — the largest in Europe — after Russian troops attacked. Reports Friday morning indicated that Russian forces had seized the plant in Zaporizhzhia.
The situation in Ukraine is rapidly deteriorating, and dispatches from the country are difficult to confirm.
Futures trimmed their losses after a stronger-than-expected February jobs report. The economy added 678,000 jobs last month, above the 440,000 expected by economists, according to Dow Jones. The unemployment rate ticked down to 3.8%.
This is the last jobs report before the Federal Reserve’s next meeting, where the central bank is expected to begin hiking interest rates. Fed Chair Jerome Powell said this week that he is leaning toward support a single 25-basis point hike in March. A basis point is equal to 0.01%.
Earnings reports drove some big moves in extended trading. Retailer Gap and restaurant chain Sweetgreen both surged after beating expectations. Chipmaker Broadcom rose after outpacing estimates for earnings and revenue.