- Messages
- 29,926
- Reaction score
- 5,210
- Points
- 288
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.
More: