(Updates to mid-day)

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Consumer data shows jump in inflation expectations

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Nonfarm payrolls rose 143,000 in January vs 307,000 in

December

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New tariff announcements expected as soon as Friday:

Reuters

exclusive

By Stephen Culp

NEW YORK, Feb 7 (Reuters) - Wall Street turned sharply

lower and benchmark Treasury yields jumped on Friday in the wake

of a mixed payrolls report, weak consumer sentiment data and

revived trade war jitters.

All three major U.S. stock indexes were lower, and the

selloff gathered velocity after a report that U.S. President

Donald Trump will shortly announce new tariffs.

The much-anticipated employment report showed the U.S. added

143,000 jobs in January, 53.4% fewer than December's upwardly

revised 307,000.

The report, distorted by annual benchmark revisions, along

with California wildfires and unusually cold weather, also

showed hotter-than-expected wage growth and a surprise dip in

the unemployment rate, to 4.0% from 4.1%.

"It's a mixed bag," said Rob Williams, chief investment

strategist at Sage Advisory Services in Austin, Texas, adding

the market was trying to digest the data.

"It was a miss on the headline, but the revisions over the

last two months were positive, and hourly earnings were also

up."

Trump is preparing to announce a fresh round of reciprocal

tariffs as early as Friday, according to a Reuters exclusive.

The news revived trade war jitters.

"We're going to see more volatility this year," Williams

said. "With trade, there's the bark and the bite and maybe the

bite's not going to be terrible, but there's going to be a lot

of barking."

Late Thursday, Amazon ( AMZN ) reported disappointing growth

in its cloud computing segment and provided lower-than-expected

first quarter revenue and profit.

Similar disappointments from Microsoft ( MSFT ) and Alphabet

earlier in the week have fueled suspicions that the

megacap tech and tech-adjacent stocks are losing some momentum.

The Dow Jones Industrial Average fell 315.98

points, or 0.71%, to 44,431.65, the S&P 500 fell 50.42

points, or 0.85%, to 6,031.81 and the Nasdaq Composite

fell 257.63 points, or 1.33%, to 19,529.73.

European shares followed U.S. stocks lower in the wake of

the January employment report.

MSCI's gauge of stocks across the globe

fell 5.60 points, or 0.61%, to 869.97. The STOXX 600

index fell 0.38%, while Europe's broad FTSEurofirst 300 index

fell 8.54 points, or 0.39%.

Emerging market stocks rose 3.83 points, or 0.35%,

to 1,106.30. MSCI's broadest index of Asia-Pacific shares

outside Japan closed higher by 0.36%, to 582.10,

while Japan's Nikkei fell 279.51 points, or 0.72%, to

38,787.02.

U.S. Treasury yields rose on the strength of upward

revisions to previous-month job adds and a surprise decline in

the unemployment rate, despite the job report's disappointing

headline number.

The yield on benchmark U.S. 10-year notes

rose 5.7 basis points to 4.495%, from 4.438% late on Thursday.

The 30-year bond yield rose 4.6 basis points to

4.6926% from 4.647% late on Thursday.

The 2-year note yield, which typically moves in

step with interest rate expectations for the Federal Reserve,

rose 6.9 basis points to 4.277%, from 4.208% late on Thursday.

The dollar gained ground in choppy trading in the wake of

the jobs report.

The dollar index, which measures the greenback

against a basket of currencies including the yen and the euro,

rose 0.41% to 108.10, with the euro down 0.51% at

$1.0328.

The Japanese yen strengthened 0.11% against the

greenback to 151.31 per dollar.

Sterling weakened 0.36% to $1.2389.

The Mexican peso weakened 0.58% versus the dollar at

20.593.

The Canadian dollar weakened 0.06% versus the

greenback to C$1.43 per dollar.

In cryptocurrencies, bitcoin gained 1.08% to

$97,865.00. Ethereum declined 0.55% to $2,693.98.

Oil prices were just barely higher, but remained on track

for their third consecutive weekly decline due to tariff

worries.

U.S. crude rose 0.06% to $70.64 a barrel and Brent

rose to $74.33 per barrel, up 0.05% on the day.

Gold resumed its uphill climb as renewed trade jitters added

luster to the safe-haven metal.

Spot gold rose 0.13% to $2,860.22 an ounce. U.S. gold

futures rose 0.47% to $2,869.50 an ounce.