After a strong August employment report failed to allay concerns that the Federal Reserve would keep rapidly
raising interest rates to combat inflation, U.S. stocks sank on Friday to complete their third straight weekly fall.
Following a morning rise, the Dow Jones Industrial Average gave up a 370-point gain and ended the session at 31,318.44 down 337.98 points, or around 1.1%.
The S&P 500 closed at 3,924.26, its lowest level since July, down about 1.1%. The Nasdaq Composite saw its first six-day losing streak since 2019 as it dropped 1.3% to 11,630.86.
After falling in the closing days of August, all the main averages were down at the end of the week, marking their third consecutive negative week.
The Nasdaq sank 4.2% while the Dow and S&P lost about 3% and 3.3%, respectively.