Dow tumbles 273 points on jobs report

September 4, 2015 8:35 PM

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Dow tumbles 273 points on jobs report

Stocks tumbled on Wall Street Friday as investors reacted to the August jobs report -- the last monthly employment picture before the Federal Reserve's key mid-September meeting on interest rates -- which produced less new jobs than expected but the lowest reading on the nation's unemployment rate in more than seven years.

The knee-jerk reaction from traders is that while the report was mixed and didn't send a definitive signal as to what the data-dependent Fed's next move will be, it could be strong enough for the Fed to hike rates in two weeks.

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