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Stocks are sliding as a stellar jobs report has tempered hopes for a cut to interest rates this month

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Strong US employment data dashed investors' hopes the central bank will cut rates this month.

Stocks slumped on Monday after a stellar US jobs report weighed on traders' hopes of a cut to interest rates this month. The US economy added 224,000 jobs last month, exceeding the 160,000 predicted by economists. "The Fed now has a tough job as to not cut would act like a de-facto tightening," one analyst said. View Markets Insider's homepage for more stories.

Stocks slumped on Monday after a stellar US jobs report weighed on traders' hopes of a cut to interest rates this month. The US economy added 224,000 jobs last month, exceeding the 160,000 predicted by economists. "The Fed now has a tough job as to not cut would act like a de-facto tightening," one analyst said. View Markets Insider's homepage for more stories.

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