U.S. stocks opened lower on Friday, with the Dow falling 0.4%, as a strong August jobs report reignited rate hike expectations; Lululemon plunged after its earnings report, and Tesla's stock declined.
Following the opening of U.S. stock markets on Friday, the Dow Jones Industrial Average fell 0.4%, and the S&P 500 also broadly declined. The market reacted to a stronger-than-expected August jobs report, which increased the likelihood of further interest rate hikes by the Federal Reserve. Additionally, retailer Lululemon Athletica saw a significant drop in its stock price after releasing its earnings report, and Tesla's stock also experienced a decline.
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