Wall Street retreats as strong jobs data raises rate hike bets, credit reporting stocks slump
New Delhi, Sept. 4 -- Wall Street's major stock indices fell on Friday after stronger-than-expected US employment data increased expectations that the Federal Reserve could raise interest rates in September.
Data from the US Bureau of Labor Statistics showed that the US economy added 162,000 jobs in August 2026, marking the strongest monthly increase in five months. July's job growth was also revised upward to 23,000.
The August increase was significantly above economists' expectations of 56,000 jobs, raising concerns that a resilient labour market could give the Fed less reason to ease monetary policy.
At 9:44 a.m. ET, the Dow Jones Industrial Average fell 176.48 points, or 0.33%, to 53,509.63, the S&P 500 lost 12.48 points, or 0.16%,...
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