Stocks close down after jobs numbers bolster Fed rate hike plans
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U.S. stocks are closing lower after a solid jobs report kept alive the possibly that the Federal Reserve will raise interest rates as soon as next month.
The losses on Friday gave the Dow Jones industrial average its seventh straight decline, its longest losing streak in four years.
The Dow closed down 46 points, or 0.3 percent, at 17,373.
The Standard & Poor’s 500 index fell six points, or 0.3 percent, to 2,077. The Nasdaq composite lost 12 points, or 0.3 percent, to 5,043.
In government bond trading, prices edged higher, pushing the yield on the 10-year Treasury note down to 2.17 percent from 2.23 percent on Thursday.
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