NEW YORK (CNNMoney.com) - Stocks slipped Friday morning as signs of inflation in the January jobs report gave investors an incentive to continue bailing out of stocks following the previous session's declines.

The tech-fueled Nasdaq composite (down 15.13 to 2,266.44, Charts) lost 0.6 percent in the early going.

The Standard & Poor's 500 index (down 5.38 to 1,265.46, Charts) lost 0.4 percent and the Dow Jones industrial average (down 29.46 to 10,822.52, Charts) lost about 0.2 percent.

Stocks slumped Thursday, with worries about higher inflation giving investors a reason to bail out after a strong January.

Inflationary concerns were revived Friday morning by the release of the mostly upbeat January jobs report. The reading showed a decline in unemployment and a rise in wages, which played into recent worries about wage inflation being the next big cause of pricing pressure, following energy prices.

Treasury prices slumped on the report, pushing the 10-year note yield to about 4.60 percent from 4.56 late Thursday. Treasury prices and yields move in opposite directions.

The unemployment rate fell to 4.7 percent in January, the government reported. It was the lowest rate since 2001 and lower than what Wall Street economists expected.

The payrolls report, generated by a separate survey, showed that employers added 193,000 jobs in January, up from the previous month, but short of forecasts.

The average hourly rate component increased more than expected, and the reading on wages in December was revised higher.

U.S. light crude oil for March delivery rose 14 cents to $64.82 a barrel in electronic trading, bouncing back after sliding sharply Thursday.

In currency trading, the dollar rose against the euro and yen.

COMEX gold for April delivery increased $1.70 to $574.20 an ounce.

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