US stocks fall on Fed speculation after jobs report
Fin24

US stocks fall on Fed speculation after jobs report

2015-03-06 17:04

New York - Wall Street stocks opened lower on Friday after the Labor Department reported that the US added a strong 295 000 jobs in February, sending the unemployment rate down to 5.5%.

Six minutes into trade, the Dow Jones Industrial Average was at 18 038.30, down 97.42 points (0.54%).

The broad-based S&P 500 fell 8.36 (0.40%) to 2 092.68, while the tech-rich Nasdaq Composite Index lost 10.04 (0.20%) at 4 972.76.

Analysts said the strong jobs report could hasten moves by the US central bank to raise interest rates.

The jobs report "may be fostering concerns about a sooner-than-expected rate hike from the Federal Reserve," said an investment note from Charles Schwab.