Stocks fell on Wall Street and Treasury yields rose after a surprisingly strong report on the job market appeared to increase chances that the U.S. central bank could raise interest rates later this month.
The S&P 500 lost 0.4% Friday. The Dow Jones Industrial Average fell 0.5%, and the Nasdaq composite gave back 0.3%.
The government reported that U.S. employers added 162,000 jobs to their payrolls last month, far more than expected. That could give the Federal Reserve leeway to raise its benchmark short-term interest rate to fight inflation.
The yield on the 2-year Treasury climbed to 4.37%.
On Friday:
The S&P 500 fell 29.11 points, or 0.4%, to 7,718.60.
The Dow Jones Industrial Average fell 271.86 points, or 0.5%, to 53,414.25.
The Nasdaq composite fell 77.07 points, or 0.3%, to 26,506.99.
The Russell 2000 index of smaller companies rose 7.38 points, or 0.2%, to 2,975.65.
For the week:
The S&P 500 is up 6.84 points, or 0.1%.
The Dow is down 145.74 points, or 0.3%.
The Nasdaq is up 104.57 points, or 0.4%.
The Russell 2000 is up 3.28 points, or 0.1%.
For the year:
The S&P 500 is up 873.10 points, or 12.8%.
The Dow is up 5,350.96 points, or 11.1%.
The Nasdaq is up 3,265.00 points, or 14%.
The Russell 2000 is up 493.74 points, or 19.9%.
