U.S. stock benchmarks closed lower Friday, but managed to finish off the day's worst levels, as investors wrestled with weaker-than-expected November jobs report. The Labor Department report showed that a mere 210,000 new jobs were created in the U.S. in November, well below estimates from economists polled by The Wall Street Journal for a gain of 573,000 new jobs.
Fed Chairman Jerome Powell and other members of the central bank's rate-setting committee have suggested that a faster tapering of asset purchases could be warranted to combat rising inflation pressures. The Dow Jones Industrial Average DJIA, -0.17% closed down 0.2% on Friday to reach 34,580, but the index had hit an intraday low at 34,264.57. For the week, the index closed down 0.9% to mark the fourth straight weekly decline. The S&P 500 index SPX, -0.84% closed the day down 0.
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Tech Stocks Close Lower as Omicron Concerns Weigh On MarketsMajor U.S. indexes gave up their strong early gains and turned lower, setting them on track to finish a bumpy week on Wall Street with losses. Stagflation inc
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Wall St falls in choppy trading as tech stocks slideU.S. stocks lost ground in morning trade on Friday, with technology stocks dragging the main indexes lower, as fears around inflation and the Omicron variant fueled volatile trading.
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