The technology-heavy Nasdaq led the declines, falling 2.5% as shares of market heavyweights Apple Inc and Tesla Inc were the biggest drags on the market.
Wall Street’s three major stock indices closed lower on Friday after a solid jobs report ate in to hopes for a pause in the US Federal Reserve’s aggressive policy tightening which is needed to cool decades-high inflation.
The tech-heavy NASDAQ led the declines, falling 2.47 percent as shares of market heavyweights Apple Inc and Tesla Inc were the biggest drags on the market.
Earlier, the US Department of Labor’s closely watched report showed nonfarm payrolls rose by 390,000 jobs last month and wages grew, while the unemployment rate held steady at 3.6 percent all signs of a tight labor market.
Economists polled