US stocks fall after blockbuster January jobs report suggests more hawkish Fed moves ahead

Fri, 02/03/2023 - 09:34

Trader at NYSE — A trader works at the New York Stock Exchange NYSE in New York, the United States, on March 9, 2022.
Michael Nagle/Xinhua via Getty

US stocks fell on Friday after a blockbuster jobs report suggested more hawkish Fed rate hikes.
The US economy added 517,000 jobs in January, which trounced expectations of just 188,000.
The unemployment rate fell to 3.4%, representing its lowest level in 54 years.

US stocks fell on Friday after a blockbuster January jobs report suggested the Federal Reserve will continue to be hawkish with more interest rate hikes.

The US economy added 517,000 jobs in January, more than double the estimate of 188,000. The unemployment rate fell to 3.4%, representing the lowest level in 54 years.