Economy / Markets
Wall Street closed lower on Friday as 162,000 August payrolls tripled expectations and lifted Fed September hike odds to 58.4%
US stocks fell on Friday after the Bureau of Labor Statistics reported 162,000 nonfarm payrolls for August against a 53,000 consensus, with June and July revisions adding another 55,000 jobs and the unemployment rate steady at 4.1%. The Dow lost 272.51 points, or 0.51%, to 53,413.60, the S&P 500 fell 29.30 points, or 0.38%, to 7,718.41, and the Nasdaq dropped 77.07 points, or 0.29%, to 26,506.99. CME FedWatch put the implied probability of a 25-basis-point Fed hike on September 16 at 58.4%, up from 49.4% on Thursday; the 2-year Treasury yield reached 4.377%, its highest since January 2025.
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Free Malaysia Today — Wall Street ends lowerSwingfolio — US week recap