NEW YORK—U.S. stocks fell broadly Friday and pulled major indexes into the red for the week as Wall Street focused on the downside of the U.S. jobs market.
A report showed employers hired more workers last month than economists expected. While that’s a good sign for the economy amid worries about a possible recession, many investors saw it keeping the Federal Reserve on its path to hiking interest rates aggressively. Such moves would slow the economy in hopes of ultimately knocking down high inflation, and the Fed risks causing a recession if it moves too quickly or too far. In the meantime, higher interest rates put downward pressure on stocks and other investments.
