US stocks stage huge comeback, still close lower in volatile post-jobs-report session

a man wearing a suit and tie talking on a cell phone: Spencer Platt/Getty Images

© Spencer Platt/Getty Images
Spencer Platt/Getty Images

  • US stocks ended Friday lower, even after the August jobs report showed strong job additions and a better-than-expected unemployment rate.
  • Major indexes were dragged lower by their most heavily weighted tech stocks for a second straight day.
  • Megacap tech names like Amazon, Microsoft, and Alphabet led declines.
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US stocks closed lower to cap off a volatile session. Major indexes dove shortly after the market open, only to stage a sharp recovery in the afternoon before drifting lower once to end the day.

The losses came amid reports that the Japanese conglomerate SoftBank was responsible for buying market-moving chunks of megacap tech stocks over the past several months. Names like Amazon, Microsoft, and Google were among the biggest drags on major indexes Friday.

Traders also weighed the August jobs report. The US added 1.37 million jobs in

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