The U.S. job market concluded the year on a robust note, adding 256,000 jobs in December, significantly exceeding expectations of 160,000 and causing the unemployment rate to drop to 4.1%. However, this positive economic news led to a nearly 700-point plunge in the Dow Jones, as investors reassessed expectations regarding future interest rate cuts from the Federal Reserve. The strong labor data sparked concerns about prolonged inflation, resulting in soaring Treasury yields and wiping out gains in major stock indexes, including the S&P 500 and Nasdaq. Analysts suggest that the unexpected job growth could dampen hopes for quick monetary easing, putting the Fed back into a wait-and-see mode regarding interest rate adjustments.