Wall Street dips as jobs report stronger than expected

The better-than-expected jobs report signaled that growth was gaining traction, but Wall Street took a dim view as a potential rate hike could increase the cost of borrowing. The Fed has kept overnight rates near zero since December 2008 and the economy's sluggishness had left markets doubting whether the Fed would be able to raise rates this year. The dollar extended gains against a basket of currencies after the jobs data, while yields on 10-year U.S. Treasuries surged to their highest si