Friday saw a decline in stocks as Wall Street’s anticipation of additional rate cuts from the Federal Reserve this year were tempered by a strong employment report.
There was a 696.75-point (1.63%) decline in the Dow Jones Industrial Average to 41,938.45.
Whereas the Nasdaq Composite dropped 1.63% to 19,161.63, the S&P 500 declined 1.54% to 5,827.04. The major benchmarks for 2025 plunged into negative territory due to Friday’s losses.
Payrolls in the United States increased by 256,000 in December, compared to the 155,000 gain predicted by economists surveyed by Dow Jones.
Forecasted to stay at 4.2%, the unemployment rate dropped to 4.1% during the month. The story caused the yield on the 10-year Treasury note to soar to its highest level since late 2023.
Source (CNBC)