1st LD: Dow briefly sinks 1500 points in late trading

NEW YORK, Feb. 5 (Xinhua) -- U.S. stocks traded sharply lower on Monday, extending a steep sell-off from the previous session.

The Dow Jones Industrial Average briefly declined nearly 1600 points in late trading, broke below 25,000 and erased its 2018 gains.

U.S. stocks plunged in the previous session with the Dow slumping over 650 points, as investors worried that the Federal Reserve may hike rates on a faster pace after the upbeat jobs report.

U.S. total nonfarm payroll employment increased by 200,000 in January, beating market consensus, and the unemployment rate stayed unchanged at 4.1 percent, the Labor Department reported Friday.

Analysts said the market is now thinking about the possibility of the Fed raising interest rates four times this year, after the release of the stronger-than-expected jobs report. Enditem