Stocks Tumble Amid Worries About Rising Interest Rates

Stocks tumbled on Friday after an upbeat report on the nation's job growth raised worries on Wall Street of the end of cheap borrowing costs. The Dow Jones Industrial Average closed down about 279 points, or 1.5 percent, to fall below 18,000. The S&P 500 Index shed 1.4 percent and the Nasdaq lost 1.1 percent. It was the Dow's worst day since Jan. 27.

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For Subscribers

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

FOR SUBSCRIBERSCornell rape allegation spotlights stringent New York state laws that have long drawn criticism

FOR SUBSCRIBERSThe debate over AI’s future rages on both coasts

FOR SUBSCRIBERSDecades-old march dispute reignites in Northern Ireland, threatening political crisis

The Labor Department reported that the economy generated 295,000 jobs in February, versus expectations of 240,000 jobs. The better-than-expected growth in jobs sparked worries that the Federal Reserve would raise interest rates sooner rather than later, ending an era of super-low rates that has been around since the financial crisis in 2008. Even though jobs growth was robust, average hourly wages only rose by 0.1 percent.

"Good news is bad news again," said Gina Martin Adams at Wells Fargo.

IN-DEPTH

• U.S. Economy Creates Better-Than-Expected 295K Jobs in February
• The Five Jobs With the Most Growth Potential
• The Dow: Out With AT&T and in With Apple

-- NBC News Staff and CNBC