Stock market today: Dow, S&P 500, Nasdaq sink after jobs report surprise, oil tops $90

Major U.S. indices, including the Dow, S&P 500, and Nasdaq, experienced a significant downturn following a surprising jobs report. This likely indicates investor concerns about persistent inflation and the Federal Reserve's potential response, specifically the likelihood of continued aggressive interest rate hikes. The surge in oil prices above $90 further exacerbates these inflation fears, suggesting higher energy costs could dampen corporate earnings and consumer spending. Investors should watch for upcoming inflation data and Fed commentary.