US stocks close the week with losses

By FXStreet US stocks fell sharply on Friday and closed the week with steep losses, following two weeks of gains.

The Dow Jones Industrial Average lost 211.82 points, or 1.29%, to 16,204.83 and posted a 1.6% weekly loss. The S&P 500 fell 35.40 points, or 1.85%, to 1,880.05 and closed the week 1.3% lower. The Nasdaq Composite declined 146.41 points, or 3.25%, to 4,363.14 and finished the week 5.4% down.

On the data front, US nonfarm payrolls showed the economy added only 151,000 new jobs in January, below the 190,000 expected and down from a revised 262,000 gain in December. However, wages rose and the unemployment rate edged down to 4.9%, hitting levels below 5% for first time since 2008.
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Source:: FX Street