A turbulent week on Wall Street ended Friday with more losses and the stock market’s fifth straight weekly decline.
The latest pullback came as investors balanced a strong U.S. jobs report against worries the Federal Reserve may cause a recession in its drive to halt inflation.
The S&P 500 ended with a loss of 0.6%, having come back partway from a bigger loss of 1.9%. Roughly 70% of the companies in the benchmark index fell. Technology stocks weighed down the index the most.
The Dow Jones Industrial Average fell 0.3%, while the Nasdaq slid 1.4%. Both indexes also pared some of their losses from earlier in the day.
Investors focused on new data Friday showing U.S. employers continue to hire rapidly, and workers are getting relatively big raises, though short of inflation. The market’s reaction reflects concerns among investors that the strong numbers would keep the Fed on track for sharp and steady increases in interest rates to corral inflation, analysts said.