U.S. President Donald Trump called the latest employment report very strong even as the Nasdaq fell 3.01%, the S&P 500 lost 1.81% and the Dow dropped 0.80% on higher Fed hike expectations.
U.S. President Donald Trump said the latest employment report was very strong and argued stocks should be rising rather than falling, adding that this had been the pattern for the past 200 years and that economic growth does not necessarily mean inflation. His comments came as U.S. stocks fell after May's jobs report strengthened market expectations that the Federal Reserve could keep tightening monetary policy. The Nasdaq slid 3.01%, the S&P 500 fell 1.81% and the Dow Jones Industrial Average lost 0.80% as investors reassessed the interest-rate outlook.