Dow Drops 100 Points as Apple, Payrolls Too Much to Bear

Barron's:
11:24 a.m. (EDT)

The payrolls report was just too much for the market to bear.

The S&P 500 has dropped 0.7% to 2722.18, while the Dow Jones Industrial Average has fallen 115.32 points, or 0.5%, to 25,265.42. The Nasdaq Composite has slumped 1.2% to 7343.33.

And it isn’t hard to see why. The market’s rally on Thursday started when President Donald Trump tweeted about progress being made on trade, and reports that he’d ordered his aids to craft a preliminary deal added momentum to the trade. But Apple (AAPL), the market’s biggest stock by market capitalization, was still dropping, and the October payrolls report confirmed that the economy is chugging along, permitting the Federal Reserve to continue hiking rates. When the White House pushed back against the trade reports, the last leg of the stool was removed....MORE

Which is why the pre-market post was intro'd with:

Following on the news of the payroll report, "October Payrolls Surge By 250K, Smashing Expectations As Wages Spike 3.1%" (ZeroHedge) it is pretty much a lock the Fed will continue tightening which raises the question: What's the trade Who will be hurt firstest/mostest?