Dow 30 was trading at 29,541.50, down by 385.40 points or 1.29% from the Thursday closing level. Meanwhile, S&P 500 was lower by 81.69 points or 2.18% and trading at 3,662.83 around this time. Nasdaq Composite was trading at 10,742.30, down by 330.96 points or 2.99%
The Fed is hoping that slower job growth would mean less pressure on employers to raise pay and pass those costs on to their customers through price increases a recipe for high inflation.
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