Indexes end down more than 1% each after US jobs report
Major stock indexes end down: Nasdaq tumbles >2%
Commun services lead S&P 500 sector declines; real estate up
Dollar up; gold, oil down; bitcoin down >5%
U.S. 10-yr Treasury yield dips to 3.72%
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INDEXES END DOWN MORE THAN 1% EACH AFTER US JOBS REPORT
All three of the major U.S. stock indexes were down at least 1% on Friday, with the Nasdaq .IXIC falling more than 2% on the day and registering its biggest weekly percentage fall since January 2022 as a mixed U.S. monthly jobs report left the U.S. interest rate outlook unclear.
All but one of the major S&P 500 sectors ended lower, with the S&P 500 communication services sector .SPLRCL down 2.9%, the biggest decline among sectors. Real estate .SPLRCR was up 0.01%.
Major U.S. stock indexes turned lower shortly after the opening and extended declines by midday.
Released before the open, the Labor Department report showed U.S. employment increased less than expected in August, but a drop in the jobless rate to 4.2% suggested an orderly labor market slowdown continued.
That suggested to some that there was little reason for a big interest rate cut from the Federal Reserve this month.
The Dow .DJI and S&P 500 .SPX also posted sharp declines for the week.
Here is the closing market snapshot:
(Caroline Valetkevitch)
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FRIDAY'S EARLIER LIVE MARKETS POSTS:
NEUTRAL SENTIMENT RISES IN LATEST AAII SURVEY - CLICK HERE
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NASDAQ DOWN 2%, LEADS SELLOFF IN US STOCKS - CLICK HERE
JOBS REPORT DRILL-DOWN: SOFT, YES, BUT 50-BASIS-POINTS SOFT? - CLICK HERE
ETHEREUM, ANY TAKERS? - CLICK HERE
S&P 500 E-MINIS NEAR FLAT, PARE LOSSES AFTER US PAYROLLS - CLICK HERE
"BINARY" OUTCOME LIKELY FOR JOBS REPORT - CLICK HERE
THE BARNIER EFFECT - CLICK HERE
STOXX 600 FALLS BEFORE PAYROLLS TEST - CLICK HERE
EUROPEAN FUTURES SLIP BEFORE HOTLY ANTICIPATED JOBS REPORT - CLICK HERE
ALL ABOUT THEM PAYROLLS - CLICK HERE
closing snapshot https://tmsnrt.rs/4dVc7bq
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