The U.S. jobs report shocked Wall Street: 162,000 jobs were added in August, compared with just 56,000 expected. Unemployment stayed at 4.1%.
But instead of celebrating, stocks fell and Treasury yields jumped as investors increased their expectations for a possible Fed rate hike.
Why can a strong jobs report actually be bad news for the stock market?
Higher interest rates could mean more expensive mortgages, auto loans and borrowing for millions of Americans.
The next inflation report could now be crucial for the Federal Reserve’s decision.
Should the Fed raise rates or hold them steady?
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