Stocks Drop as Strong Jobs Report Stokes Inflation Fears; Nvidia Shares Plunge
-
Stocks fell on Friday after the latest jobs report showed stronger than expected job growth but a tick up in unemployment. The Dow fell 0.2%, the S&P 500 fell 0.6%, and the Nasdaq fell 1.2%.
-
Nvidia stock shares slipped 5.6%, erasing earlier gains. Other tech and semiconductor stocks like Broadcom and the iShares Semiconductor ETF also declined.
-
275,000 jobs were created in February, surpassing expectations of 200,000 jobs. However, figures for December and January were revised down.
-
Nvidia was on track for its worst day in 15 months. Shares fell 6.2% to $869.12. The stock is still up 75.5% year-to-date.
-
Broadcom shares fell after the company left fiscal-year sales guidance unchanged. Amylyx stock plunged after its ALS drug failed in a Phase 3 trial.