Wall Street's main indexes fell for a fifth straight session on Friday and ...
- Wall Street’s main indexes fell for a fifth straight session on Friday and posted their biggest weekly declines since the market tumbled at the end of 2018, as a weak U.S. jobs report ignited more concerns about the global economy.
U.S. employment growth almost stalled in February, with the economy creating only 20,000 jobs, adding to signs of a sharp slowdown in economic activity in the first quarter. The payroll gains reported by the Labor Department were the weakest since September 2017. But stocks finished well above their lows for the session, as investors noted the jobs report was affected by seasonal effects and the federal government shutdown.
The recent pullback has paused a rally to start 2019 that has been fueled by optimism over a U.S.-China trade deal and by beliefs the Federal Reserve will be less aggressive in raising interest rates. The S&P 500 is up 9.4 percent this year. In corporate news, Costco Wholesale shares rose 5.1 percent after the warehouse club operator’s quarterly profit topped estimates.
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