Stock index futures tumbled sharply on Friday after government data showed the U.S. economy added far fewer jobs than expected in May.

S&P 500 futures fell 16.1 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures dipped 131 points, and Nasdaq 100 futures lost 24 points.