Wall Street falls as strong jobs data fuels rate bets
U.S. stocks closed lower on Friday following a stronger-than-expected jobs report that raised expectations of a Federal Reserve interest rate hike this month. The S&P 500 and Dow Jones indexes declined amid a broad market selloff.
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Wall Street indexes closed lower on Friday afternoon, led by a 272.51-point drop in the Dow Jones Industrial Average, as a robust employment report fueled market expectations of an interest rate hike. All three major United States indexes finished the session down. For the week, however, the benchmarks remained essentially flat.
