Stocks fall after gains for worker wages fan inflation fears | amNewYork

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Worries about inflation are hitting Wall Street Friday after a report showed wages for U.S. workers are accelerating, which is good news for them but could feed into even higher inflation for the nation.

showed that wages for workers rose 5.1% last month from a year earlier. That’s an acceleration from October’s 4.9% gain and easily topped economists’ expectations for a slowdown.

“The most important number for the Fed is probably the wage number,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments. The yield on the two-year Treasury jumped to 4.34% from 4.24% late Thursday. The 10-year yield, which helps set rates for mortgages and many other loans, rose to 3.56% from 3.51%.

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