Wall Street Drops as Job Gains Fuel Rate-Hike Worries

Wall Street Drops as Job Gains Fuel Rate-Hike Worries
Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York on March 31, 2023. Andrew Kelly/Reuters
Reuters
Updated:

U.S. stock indexes fell on Monday on growing concerns that the Federal Reserve will continue to raise interest rates after Friday’s jobs data pointed to a resilient labor market.

The tech-heavy Nasdaq led losses among the major indexes after the long weekend, with growth stocks including Apple Inc., Amazon.com Inc., and Microsoft Corp. slipping between 1.7 percent and 2.1 percent.