U.S. Stocks Decline as Jobs Report Brings Little Clarity on Fed
- Investors weigh data for signals on timing for rate increase
- S&P 500 drops 3.4% for week as market volatility continues
The Bullish Case for Stocks Amid the Volatility
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U.S. stocks slumped as August payrolls data gave little comfort to investors seeking direction on interest rates amid volatile global markets and growing concern about the economy’s strength.
The Standard & Poor’s 500 Index lost 1.5 percent to 1,921.22 at 4 p.m. in New York. The benchmark index slid 3.4 percent for the week, its second-worst performance since December. The Dow Jones Industrial Average fell 272.38 points, or 1.7 percent, to 16,102.38. Equity markets will be closed Monday for Labor Day. Trading on U.S. exchanges was 10 percent below the three-month average.