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Stocks slid Friday as investors digested stronger-than-anticipated jobs data, which worried investors looking for signals that the Federal Reserve can soon begin slowing interest rate hikes.
The Dow Jones Industrials remained in the red 56.1 points to 34,338.91.
The S&P 500 subtracted 12.78 points to 4,063.79.
The NASDAQ came off its lows of the morning, but still trailed Thursday’s close by 56.57 points to 11,425.88.
The S&P 500 and the NASDAQ are on track for modest weekly gains, while the Dow is on pace for a similarly minor loss.
Non-farm payrolls increased 263,000 in November, a bigger gain than the 200,000-job increase expected by economists polled by Dow Jones. The unemployment rate held steady at 3.7%.
This is the final monthly employment report before the Fed’s two-day meeting Dec. 13-14, in which the central bank is expected to raise its fed funds target rate by a half percentage point. A 50-basis-point increase would mark a slowing from the prior 75-basis-point rate hikes set by the central bank.
Prices for the 10-year Treasury lost ground, raising yields to 3.56% from Thursday’s 3.51%. Treasury prices and yields move in opposite directions.
Oil prices increased 31 cents to $81.53 U.S. a barrel.
Gold prices subtracted $6.10 to $1,809.30 U.S. an ounce.
