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NEW YORK (AP) — Good news on the economy remains bad news for Wall Street, as stocks fell sharply Friday on worries a still-strong U.S jobs market may actually make a recession more likely. The S&P 500 ended 2.8% lower after briefly dropping 3.
However, the major indexes notched a gain for the week, thanks to a powerful but short-lived rally Monday and Tuesday.
The S&P 500 was 2.6% lower in afternoon trading after the government said employers hired more workers last month than economists expected.
Good news on the economy Friday proved bad news for Wall Street, as stocks fell sharply on reports of a still-strong U.S jobs market.
Strong payrolls growth and a plunging unemployment rate mean more rate hikes are on the way.