Reported about 19 hours ago
US stocks fell sharply on Friday following a strong jobs report that added over 250,000 jobs in December and lowered the unemployment rate to 4.1%. Despite positive employment figures, concerns arose that the Federal Reserve might keep interest rates higher for an extended period. Major indices like the Dow Jones, S&P 500, and Nasdaq all experienced significant losses, erasing their year-to-date gains, while consumer sentiment regarding inflation also worsened, leading investors to reconsider the timing of future rate cuts.
Source: YAHOO