Watch Art Cashin: How jobs number could hit stocks

Cashin says: Market losses 'extensive but not deep'

Art Cashin says traders now see a gain of 190,000 to 200,000 for November non-farm payrolls as "neutral" for stocks.

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani around midday that if tomorrow morning's jobs report from the government shows an increase of 210,000 or more, and the 10-year U.S. note yield rises above three percent as a result, stocks could be hurt.