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Stocks close lower as slowing labor market boosts rate cut hopes but fans economic fears: Live updates​

Stocks closed lower on Friday after a weaker-than-expected U.S. jobs report gave way to worries about a slowing U.S. economy, even as expectations for a Federal Reserve rate cut were solidified.

The S&P 500 finished the day down 0.32% at 6,481.50, while the Nasdaq Composite declined 0.03% to settle at 21,700.39. The Dow Jones Industrial Average closed down 220.43 points, or 0.48%, at 45,400.86.

All three leading indexes had reached fresh record intraday highs earlier in the session. At their peaks, the broad market index, the tech-heavy Nasdaq and the blue-chip Dow were up about 0.5%, 0.8% and 0.3%, respectively.

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