US stocks drop as mixed jobs report keeps investors guessing
US stocks have closed lower after the latest jobs report gave investors few clues about the Federal Reserve’s next move on interest rates.
It was the second-worst week for the market so far this year.
The Dow Jones industrial average lost 272 points, or 1.7%, to 16,102. It had been down as much as 348 earlier.
The Standard & Poor’s 500 index gave up 29 points, or 1.5%, to 1,921.
The Nasdaq composite slipped 49 points, or 1.1%, to 4,683.
The government reported that the unemployment rate fell to a seven-year low in August, but also that employers added fewer jobs than forecast.
Gap fell 2% after reporting a drop in sales.
Bond prices rose while the yield on the 10-year Treasury note fell to 2.13%.
