Wall Street slides as dollar surges and unemployment falls

Wall Street fell at the open, after dollar returned higher following unexpectedly improving unemployment data, which raised expectations of the Federal Reserve sticking on its track to raise interest rates this year,  

The dollar's gains came after the unemployment rate fell to an eight-year low, which restored confidence in the American economy and the jobs markets, which in turn would probably lead the central bank to keep to its monetary tightening path. 

Dollar's gains pushed oil prices lower, which affected energy shares badly on Wall Street. When the greenback rise, dollar-denominated oil prices fall. 

U.S. treasury bond yields rose again as demand recedes for them amid a rising risk appetite  in the markets following the positive unemployment data. 

S&P 500 dropped 0.84%, or 16.03 points to trade at 1,899.42, while Dow Jones gave up 0.32%, or 52.15 points to 16,364.43. 

Similarly, NASDAQ Composite slumped 1.2%, or 54.02 points to 4,455.54.