US stocks tumbled on Friday following a week of choppy trading, after a closely watched labour market report pointed to persistently strong jobs growth and deflated investors’ hopes that the Federal Reserve would soon ease the pace of its interest rate rises.
The benchmark S&P 500 index closed down 2.8 per cent in New York, its largest daily loss in more than three weeks as about 94 per cent of the stocks in the index slid in value. The technology-heavy Nasdaq Composite tumbled 3.8 per cent.
The losses followed data that showed US employers added 263,000 new jobs in September, down from 315,000 in August but above Wall Street expectations.
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