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S&P 500 Slips After Surprisingly Strong Jobs Data

·1 min

Stock indexes slipped and bond yields rose as a result of a strong jobs report, which led investors to revise their expectations for the timing of Federal Reserve interest rate cuts. The S&P 500 fell by 0.1%, the Nasdaq Composite dropped by 0.2%, and the Dow Jones Industrial Average shed 0.2% or 87 points. All three indexes experienced weekly gains in the beginning of June, following a positive performance in May.