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Employers added a 172,00 jobs overall last month, but there were losses in some sectors, including accounting, tax, bookkeeping and payroll services.
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Stock Market Today: Nasdaq Drops 2% After Strong Jobs Report — Live Updates WSJNasdaq drops the most in more than a year as chips tumble; S&P 500's 9-week winning streak set to end: Live updates CNBCTech Stocks Fall. Why Broadcom, Google, AI IPOs May Have Triggered Sell-Off. Investor's Business DailyStocks and Bonds Fall as Jobs Fuel Fed-Hike Bets: Markets Wrap Bloomberg
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The S&P 500 fell more than 2.6 percent on Friday, its worst one-day drop of the year and ending nine weeks of gains.
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U.S. job growth blows past forecasts, setting stage for Fed rate hikes CoinDeskThe US economy added a stronger-than-expected 172,000 jobs last month CNNJobs Report Live Updates: U.S. Employers Added 172,000 Jobs in May The New York TimesUS Adds 172,000 Jobs in May, Beating All Economists' Estimates Bloomberg.comJobs report smashes expectations with payroll growth of 172,000 Yahoo Finance
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Investors are cooling on momentum stocks and considering the implications of a strong jobs report.
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Tech sell-off, rate-hike fears drive Wall Street plunge Yahoo FinanceNasdaq falls 4% and suffers worst day since April 2025 as traders flee chip stocks: Live updates CNBCStrong Job Growth Weakens Stocks WSJS&P 500 set for worst day this year on AI weakness, rising odds for Fed rate hikes CNNWall Street slumps as chips slide, robust jobs data stokes fears of hawkish Fed Reuters
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S&P 500 and Nasdaq fall as chips sell off; yields rise after jobs report: Live updates CNBCStocks sink as interest rate hike worries rattle tech amid nonstop AI spending NBC NewsStock Market Today: Treasury Yields Jump After Strong Jobs Report, Dow Opens Flat WSJStock market today: S&P 500, Nasdaq futures slide ahead of May jobs report Yahoo Finance
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The unemployment rate held at 4.3 percent in April, according to a Labor Department report. But the effects of the Iran war are only beginning to emerge.
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