US stocks added to weekly losses on Friday

By FXStreet FXStreet (Córdoba) – US stocks ended the day sharply down and recorded sharp weekly losses after US nonfarm payrolls data left investors wondering whether the Federal Reserve will raise rates at its September 16-17 meeting.

The Dow Jones Industrial Average fell 272 points or 1.66% to close at 16,102, recording a 3.3% loss over the week. The S&P 500 shed 29 points or 1.53% to end at 1,921, recording a 3.4% weekly loss. The Nasdaq Composite lost 49.58 points, or 1.1% to 4,683 and posted a 3% weekly loss.

US nonfarm payrolls showed economy added 177K new jobs in August, versus 220K expected. However, the unemployment rate dropped to 5.1% from 5.3% in July. Moreover, figures suggest more unemployed found jobs in August as the total number of unemployed people fell by 237,000 and the labor force dropped by 41,000.
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Source:: FX Street