US indices fell, closing lower this week, as Wall Street struggled to shake off fears that the US Federal Reserve may start raising interest rates again later this month.
The S&P 500 lost 0.29% to close at 4,398.95, while the Nasdaq Composite Index fell by 0.13%, closing at 13,660.72. The Dow Jones Industrial Average fell 187.38 points, or 0.55%, to settle at 33,734.88 points.
All three major indices closed the week with losses, as the S&P 500 index fell by 1.16%, while the Nasdaq index fell by 0.92%, and the Dow Jones index lost 1.96%, recording its worst weekly performance since March.
The Labor Department's jobs report for June showed a smaller-than-expected increase, slowing from May. Nonfarm payrolls increased by 209 thousand jobs, while the unemployment rate came in at 3.6%. Economists polled by Dow Jones expected an increase of 240,000 jobs and a similar level of unemployment.
But parts of the report, including stronger-than-expected wage numbers, heightened concerns that the Fed may have reason to resume hikes later this month, as average hourly earnings rose 0.4% in June and 4.4% from a year ago. . Meanwhile, the unemployment rate fell from 3.7% in May.
