Wall Street sold off on stronger-than-expected U.S. jobs data, leaving room for more rate hikes ahead by the Federal Reserve.
are both on track to post their worst daily performances in more than a month with just hours left in Thursday's session.
The Dow's 1.3% drop places it on track for its biggest lost in a session since March 22, when the blue-chip average finished 1.6% lower.— Alex HarringJob openings fell more than expected in May, providing some hope that the labor market is loosening up, according to a Labor Department report Thursday.
The Job Openings and Labor Turnover Survey showed that listings totaled 9.82 million, down from an upwardly revised 10.32 million the month before and below the FactSet estimate of 9.9 million. Quits rose on the month, pushing just above 4 million as the rate compared to the workforce size increased to 2.6%, up 0.2 percentage point from April.
A separate economic report released at 10 a.m. ET showed that the ISM Services index for June registered a 53.9 reading, up from 50.3 in May and better than the 51.3 estimate.
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