Dow finishes lower to cap tumultuous day and week of trading for Wall Street

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U.S. equities ended lower on Friday after rebounding sharply off session lows, capping a week that saw benchmark equity indexes hit new records and the tech-heavy Nasdaq log its biggest one-day selloff since June. The S&P 500 fell 0.8% to end around 3,427. The Dow Jones Industrial Average shed 159 points, or 0.6%, to end near 28,133, based on preliminary numbers. The Nasdaq Composite slipped 1.3% to finish around 11,313. For the week, the S&P was down 2.3%, the Nasdaq fell 3.3%, and the Dow lost 1.8%. Throughout Friday’s ferocious selloff, unloved sectors like financials gained ground at expense of tech equities, which have showed the most impressive gains since the March lows. Investors also eyed data from the Labor Department showing the economy had regained 1.4 million jobs in August and the unemployment rate fell to 8.4% from 10.2%. Economists polled by MarketWatch had predicted an increase of 1.2 million jobs. U.S. markets will be closed next Monday in observance of the Labor Day holiday.
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