The Dow Jones Industrial Average tumbled nearly 700 points on Friday to cap an ugly week of trade after a stellar January for the blue-chip gauge. The DowDJIA, -2.54% finished off about 670 points, or about 2.6%, to lose its grip at 26,000 as the broader stock market cascaded lower in the first significant sell off in recent memory. The point decline for the Dow marked its worst since December of 2008, when it tumbled 680 points. However, the percentage decline was only the worst drop since Aug. 24, when the gauge fell 3.6%. More broadly, the S&P 500 indexSPX, -2.12% fell 2.1% at 2,761, while the Nasdaq Composite index COMP, -1.96%finished down 2% at 7,240. The move lower for the broader market capped a brutal week, relatively speaking, as investors wrestled with rising bond yields and fears that the Federal Reserve may be forced to lift interest-rates faster than the three or four rate hikes the market is expecting in 2018 due to a strong economy and job market, underlined by a better-than-expected jobs report on Friday.