Stocks Slide Ahead of Key Jobs Report as Yields Surge, Oil Drops

Stocks moved lower Thursday, coming off gains amid a bond rout reprieve, ahead of Friday's key jobs data. The Dow fell 0.4% while the S&P 500 and Nasdaq lost 0.5%-0.6%.

Oil prices retreated on demand concerns, with WTI crude futures down 1.8% below $83. Higher yields could keep Fed on pause, San Francisco Fed President Mary Daly said.

Mortgage rates jumped to 7.49%, remaining at 23-year high. Rates could near 8% as 10-year Treasury yield spikes, an economist said.

Jobless claims ticked higher but underscored labor market resilience. Markets await September jobs report Friday, which could spook investors whether hot or cold.

Stock futures slipped Thursday as focus turned to U.S. monthly payrolls ahead of the data. S&P 500 futures fell 0.19%, while Dow futures dropped 0.23%.