Stocks close out week with worst start to year ever

The worst ever start to a year - not such good news for the U.S. stock market.

USA Today reports the market saw an early rally fizzle out and finished sharply lower Friday after a big late-day selloff, dashing hopes for a market rebound despite a strong U.S. jobs report and a 2 percent rebound in Chinese stocks that had provided a brief but short-lived respite to a turbulent, historic week of trading.

The Dow Jones Industrial Average closed down 167.65 points and the Standard & Poor's 500 index tumbled 21.06 points.

The market got a sentiment boost before the opening bell when the government reported that the U.S. economy created 292,000 jobs in December, but it didn’t hold up.

Read more from USA Today.