Stocks tumbled on Friday, ending lower as investors digested the release of the monthly U.S. jobs report to give a boost to the Federal Reserve’s upcoming interest rate decision.
The S&P 500 (^GSPC) fell about 0.3%, while the Dow Jones Industrial Average (^DJI) ended down 0.6%. The tech-heavy Nasdaq (^IXIC) led the gains earlier in the session, but ended below the flatline. All three averages were also down for the week.
US government data showed employers added 209,000 jobs in June, below expectations but still at a healthy pace of job growth. The unemployment rate fell to 3.6%.
A stronger-than-expected ADP jobs report on Thursday signaled that the US economy is proving resilient to the Fed’s efforts to fight inflation. Together, the data helped bolster bets that the Fed is likely to raise rates again at its July meeting.
This content is not available due to your privacy preferences.
Update your settings here to see it.
Click here for the latest stock market news and in-depth analysis, including events moving stocks
Read the latest financial and business news from Yahoo Finance