U.S. Stocks End Turbulent Week With Hefty Losses

U.S. stocks ended Friday's session sharply lower, as highly anticipated monthly jobs report intensified the debate about the Federal Reserve's decision to raise interest rates in September. The jobs report was solid enough for the Fed to consider a rate hike during the next Fed meeting on Sept. 16-17. Friday's losses added to declines earlier in the week, with the main indexes recording weekly losses of more than 3%, in another brutal week for equities. The S&P 500 closed 29.91 points, or 1.5% lower at 1,921.22 and fell 3.4% over the week. The Dow Jones Industrial Average dropped 272.38 points, or 1.7%, to 16,102.38, recording a 3.3% loss over the week. The Nasdaq Composite ended the day down 49.58 points, or 1.1% at 4,683.92 and posted a 3% weekly loss.