Wall Street ended lower on Friday, as the war in Ukraine overshadowed an acceleration in US job growth last month that pointed to a strengthening economy.
Most of the 11 major sectors of the S&P 500 index retreated. The financier led the decline and lost 2% as investors worried about the impact of Western sanctions on Moscow on the international financial system.
The S&P 500 bank index fell 3.35%, bringing the week’s loss to nearly 9%, its worst weekly decline since June 2020.
Stocks around the world were weaker, with safe-haven assets in demand after Russian forces took over Europe’s biggest nuclear plant in what Washington called a reckless attack that risked triggering catastrophe.
The U.S. Department of Labor’s employment report showed that job openings grew by 678,000 last month, more than expected, and that the unemployment rate dropped to 3.8%, the lowest since February 2020.
The crisis in Ukraine boosted energy stocks after prices for oil and other commodities soared because of sanctions on Russia, a major oil producer. The S&P 500 energy sector jumped 2.85% and gained about 9% for the week.
Growth stocks faced the brunt of the recent sell-off, with the S&P 500 growth index down 1.3% on Friday. The value index fell 0.3%.
The S&P 500 index closed down 0.79% at 4,328.87 points. The Dow Jones fell 0.53% to 33,614.80 points. The Nasdaq Composite technology index fell 1.66% to 13,313.44 points.
Source: CNN Brasil
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