The end-of-summer sell-off in the stock market accelerated in a volatile session on Friday, with investors betting that an encouraging monthly jobs report would not ultimately alter the Federal Reserve’s course on interest rates.
Major indexes initially rose after the jobs report was released, but edged lower by midday, capping a third straight week of losses. The weekend moves continued a stretch of turbulence that dragged the S&P 500 down 3.3% for the week and 8.3% over the past three weeks.