Wall Street

Wall St ends down with strong jobs data keeping the pressure on for rate hikes

Published by
Reuters

By Sinéad Carew, Devik Jain and Anisha Sircar (Reuters) – Wall Street’s three major stock indexes ended lower on Friday after a solid jobs report ate in to hopes for a pause in the Federal Reserve’s aggressive policy-tightening which is needed to cool decades-high inflation. The technology-heavy Nasdaq led the declines, falling 2.5% as shares of market heavyweights Apple Inc and Tesla Inc were the biggest drags on the market. Earlier, the Labor Department’s closely watched report showed nonfarm payrolls rose by 390,000 jobs last month and wages grew, while the unemployment rate held steady at …

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