Oil prices spiked and stocks dove on Friday as uncertainty roiled global markets.

The Dow Jones industrial average slid 559 points, or 2.2 percent, to 24,388 on a disappointing jobs report Friday morning that seemed to cement worries that an economic slowdown is ahead.

The Standard and Poor’s 500-stock index was down 2.2 percent and the Nasdaq Composite retreated 3 percent Friday, adding to a wild week in which the major indices fell more than 4 percent. Some, like the Nasdaq, have hit correction territory, or a decline of 10 percent from a 52-week high. The S&P 500 is close to that mark with a 9.5 percent decline from its recent high.

“Uncertainty remains with us, and so does the volatility,” said Michael Farr, a Washington investment manager.

“We realize there is not any sort of a trade resolution with China. We aren’t any further along than we were before the G-20 meeting. But we have the added uncertainty of the president’s communication style.”

Technology and financial sectors were among the sectors that were hurt the most. Chip stocks were getting shellacked for their worst week since March. Apple dropped another 3.4 percent in afternoon trading. The iPhone maker is in retreat for the ninth of the last 10 weeks.

IBM, Intel and Microsoft were among the biggest drags on the Dow 30, each down more than 3 percent in afternoon trading. Stock losses appeared to deepen about 11 a.m. Friday after Trump trade adviser Peter Navarro said the administration would consider raising tariffs on Chinese goods if trade issues are not resolved during the 90-day negotiating period.

The technology sector that has powered the last years of the bull market is taking much of the beating, in part because tech companies tend to rely heavily on overseas markets, including China, to sell their products. The sector finished down 5.07 percent for the week, off 14.14 percent from the Sept. 20 high, according to Howard Silverblatt, a senior analyst with S&P Dow Jones Indices. Tech is still up 2.12 percent this year and up 41.3 percent since the 2016 election.

Kristina Hooper, global market strategist for Invesco, said a confluence of events pushed stocks lower Friday.

She singled out the labor report that showed November private-sector job gains of 155,000 versus the 198,000 that were expected. But wage growth continued to show year-over-year gains of more than 3 percent.

“The economy may be slowing and inflationary pressures may be building, which in turn means the Fed may have less flexibility to take its foot off the accelerator,” Hooper said.

If the Federal Reserve continues to raise interest rates, it could slow the economy, send it into recession and tank the stock market.

The unemployment rate held at 3.7 percent last month, a 49-year low.