US Stocks Slide After Strong Jobs Report
Major US stock indexes fell on Friday after a stronger-than-expected August jobs report prompted investors to increase bets on upcoming interest rate hikes. The economy added 162,000 jobs while unemployment remained at 4.1 percent. Attention now shifts to upcoming inflation data.
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The S&P 500 and Dow Jones Industrial Average slipped on Friday morning after a stronger-than-expected jobs report drove traders to price in higher interest rates. The data forced investors to reevaluate monetary policy risks heading into the central bank's upcoming meeting. Higher borrowing costs threaten to cool equity valuations across major sectors.
