Bond prices

Bond prices jumped Friday, sending yields down, as investors expected the new sign of weakness in the U.S. would push any interest rate hike further out into the future.

The Dow Jones industrial average was down 233 points, or 1.4 percent, to 16,044 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index lost 24 points, or 1.3 percent, to 1,898. The Nasdaq composite declined 55 points, or 1.2 percent, to 4,572.

The bumpy trading Thursday came after the Federal Reserve decided to keep interest rates low, citing weakness in the global economy and unsettled financial markets.

Bond prices rose, sending yields lower, as traders reacted to the Fed's prediction that inflation will remain subdued. The dollar fell against other currencies.

Bond prices also rose as the Fed said inflation would likely remain in check. While the Fed's decision was not a surprise, it does give investors certainty that the low interest rate environment will likely last for at least several more months.