03:43 PM EDT, 08/02/2024 (MT Newswires) -- US benchmark equity indexes were on course to close lower Friday, dragged down in part by post-earnings sell-offs in Intel ( INTC ) and Amazon.com ( AMZN ) shares, as markets parsed the latest jobs report.

The Nasdaq Composite was down 2.5% at 16,760.3, while the S&P 500 fell 2% to 5,338.7. The Dow Jones Industrial Average declined 1.7% to 39,672.5. Among sectors, consumer discretionary saw the steepest decline, while consumer staples was the sole gainer.

Intel ( INTC ) shares plunged following a miss in its Q2 financial results, while Amazon ( AMZN ) was also down sharply amid a Q2 revenue miss.

The US two-year yield sank 28.5 basis points to 3.88%, while the 10-year rate declined 18.2 basis points to 3.8%.

The US economy added 114,000 jobs last month, the Bureau of Labor Statistics reported. The consensus was for a 175,000 gain, according to a survey compiled by Bloomberg. The unemployment rate increased to 4.3% from June's 4.1%, which was the market view for July.

West Texas Intermediate crude oil declined 3.4% to $73.7 a barrel.