Stock index futures fell sharply on Friday after data showed a larger-than-expected drop of 131,000 in July non-farm payrolls.

S&P 500 futures fell 8.2 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 dropped 52 points and Nasdaq 100 futures lost 10 points.

A Reuters poll of economists forecast the economy to shed 65,000 jobs last month.