Dow attempts 628-point U-turn from low to briefly turn positive in wild Friday trade

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The Dow Jones Industrial Average and the broader market were attempting a notable comeback after skidding sharply lower early Friday, heading into a three-day holiday weekend. U.S. markets will be closed in observance of Labor Day on Monday. The Dow was down 66 points, or 0.2%, at 28,220 but had been briefly trading up 6 points, or 0.1%, just after 2:30 p.m. Eastern, after falling by as many as 628 points at Friday’s lows earlier in the session to hit a intraday low at 27,664.68. The Dow also had traded 247 points higher to an intraday peak at 28,539.75 before retreating lower later in the morning. The early downturn came as the market parsed an August jobs report that came in better than expected, showing that unemployment fell to 8.4% from 10.2%, but still was reflective of a slowing pace of job growth. The stock declines also come after Thursday’s withering sell-off, powered by a retrenchment in some of the most popular highflying, tech stocks, including Tesla Inc. and Apple Inc. . On Thursday, the Dow ended with a loss of 807.77 points, or 2.8%, at 28,292.73, after dropping more than 1,000 points at its session low. The S&P 500 closed 125.78 points lower, down 3.5%, at 3,455.06. The Nasdaq Composite tumbled 598.34 points, or 5%, to end at 11,458.10. The declines marked the biggest one-day drops for all three indexes since June.
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