U.S. stocks fell from their record heights on Friday after a report showed hiring was a touch weaker than expected last month.
Employers added 145,000 jobs across the country in December, short of the 160,000 that economists forecast. But the growth was solid enough to bolster Wall Street’s view that the job market is holding up and households can continue to spend, preserving the largest part of the economy. The bond market also rallied after the report showed workers’ wages aren’t rising much, which lessens the threat of inflation.
The S&P 500 fell 9.35 points, or 0.3%, to 3,265.35.
The Dow Jones Industrial Average sank 133.13, or 0.5%, to 28,823.77. .