Stocks Fall After February Jobs Report.

Stocks fell at the end of the week following the release of the February jobs report, which provided mixed signals on the economy. The S&P 500 closed 0.7% lower, while the Dow Jones Industrial Average dropped 0.2% and the Nasdaq Composite declined 1.2%. Information technology was the worst-performing sector, with chip makers like Broadcom, Intel, Microchip Technology, and ON Semiconductor all experiencing losses. The so-called Magnificent Seven tech stocks also had a downbeat week, except for Nvidia and Meta Platforms. The jobs report showed that U.S. employers added 275,000 jobs in February, surpassing economists' expectations, but wage growth slowed and some strong readouts from previous months were revised downward. Analysts were mostly encouraged by the report, suggesting that the Federal Reserve can control inflation without causing an economic downturn. [Extracted from the article]