U.S. stocks tumbled after a positive jobs report spooked investors about the Federal Reserve making a tightening move in monetary policy in December.

The nonfarm payrolls report showed an increase of 271,000 jobs versus the estimated 180,000 jobs that Reuters had forecast. The unemployment rate dipped to 5 percent in October from 5.1 percent in September. Employment in the retail trade rose by 44,000 in October compared to 25,000 over the prior 12 months. In October, 20,000 jobs were added in clothing and accessories stores and 11,000 jobs added to the general merchandise category. Apparel jobs slid sequentially from 136,300 in September to 136,200 in October.

Average hourly earnings jumped 9 cents to $25.20 and have risen 2.5 percent over the year. The August payroll employment number was revised up from 136,000 to 153,000, while September was revised down form 142,000 to 137,000.

The Dow Jones Industrial average fell 17 points to 17,834, the S&P 500 fell 2 points to 2,096 and the Nasdaq dropped 4 points to 5,123.

Following Thursday’s dismal earnings announcement, analysts are dumping their ratings on Men’s Wearhouse. The men’s clothing chain said sales slid at its Joseph A. Banks chain after the company decided to quit offering big promotions.  As a result of the bad news, the stock plunged almost 40 percent in after hours trading to $24.48. Goldman Sachs downgraded the company from buy to neutral and cited the accelerated rate of profit decline at Jos. Banks. Goldman gave the price target as $35. Jefferies also downgraded the stock to a hold rating and gave it a $32 target price.

Chinese online retail giant Alibaba is buying Youku Tudou, a You Tube-like streaming service for $3.6 billion. Alibaba had initially taken an 18 percent stake in the company for $1.22 billion last year. Now the company is buying the remaining shares. The offer is at a premium over where the stock closed when Alibaba made its first offer to buy the company for $26.60 a share. Once they upped the price to $27.60, the deal got done. Alibaba’s stock is up slightly this morning to $85.77 for a gain of 33 cents..

Payments upstart Square amended its initial public offering filing that now values the company at $3.9 billion, lighter than the high end of the valuation range that placed the company’s value at $4.2 billion. The shares will be priced in the range of $11 to $13 a share, raising $403.7 million. The last time the company received financing, shares were valued at $15.50, making the company worth $6 billion. The conservative move reflects the challenges of the IPO market right now since the company has had a lack of profitability. Not only that, chief executive officer Jack Dorsey splits his time between Square and Twitter.

Elsewhere, Asian markets had a mixed close with China’s Shanghai Composite ending the week on a strong note up 1.9 percent. Europe’s markets were also mixed with the French CAC down by .3 percent, but the German market up .7 percent.

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