U.S. stocks are recoiling on worries that good news on the job market may prove to be bad for Wall Street by keeping inflation and interest rates high.

U.S. stock futures quickly tumbled after the government said U.S. employers added a stronger-than-expected 256,000 jobs in December. Economists were expecting hiring to increase by 153,000.

A sharp selloff in the world’s largest bond market sent shockwaves through the U.S. financial markets this week, leaving investors to ponder if that choppiness will persist throughout the new year.

Good morning. Wall Street bonuses will jump by 10% or more. Catastrophic weather drives insured losses higher. And a new side hustle is on the rise: Making job referrals for strangers. Listen to the day’s top stories.

BlackRock Inc. is parting ways with one of the world’s biggest climate-investor groups after being targeted by Republican politicians for its efforts on global warming.The money manager has decided to leave the Net Zero Asset Managers initiative,