Dow trims losses as stocks fall in final hour of trade, after being pulled down by jobs data, hawkish Fed comments


U.S. stocks came well off session lows but were still down in the final hour of trade on Thursday, as investors assessed private payrolls data and looked ahead to Friday’s December jobs report. The Dow Jones Industrial Average DJIA, -1.02% was off 303 points, or 0.9%, to 32,967. The S&P 500 SPX, -1.16% shed 1%, and the Nasdaq Composite COMP, -1.47% slumped 1.2%. Employment data published Thursday suggested that the labor market still remains tight, which could force the central bank to keep hiking interest rates to a higher level than currently anticipated to tame inflation. Most notably, ADP private payrolls data showed 235,000 jobs were created in December, beating Wall Street’s expectations for 153,000 new jobs.

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