Strong U.S. jobs data deepen rate-hike expectations as most U.S. stocks close lower
Translated from Chinese and summarized by DistantNews. Read the original for the full story.
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- U.S. August job growth exceeded expectations, increasing expectations of a Federal Reserve rate hike to curb inflation.
- The Dow Jones Industrial Average fell 0.51%, the S&P 500 dropped 0.38% and the Nasdaq declined 0.29%.
- The Philadelphia Semiconductor Index rose 3.38%.
Better-than-expected U.S. employment data strengthened expectations that the Federal Reserve may raise interest rates to restrain inflation, sending most U.S. stock indexes lower.
The Dow Jones Industrial Average fell 271.86 points, or 0.51%, to close at 53,414.25. The S&P 500 lost 29.11 points, or 0.38%, ending at 7,718.60.
The technology-heavy Nasdaq fell 77.07 points, or 0.29%, to 26,506.99. The Philadelphia Semiconductor Index moved in the opposite direction, gaining 383.133 points, or 3.38%, to finish at 11,735.262.
About this summary
Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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