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(Graphic: Hundreds of U.S. stocks are marking year lows - tmsnrt.rs/2RHJX9R). For the week, the Dow fell 4.5 percent, the S&P 500 slid 4.6 percent and the Nasdaq dropped 4.9 percent. The Dow Jones Transport Average .DJT tumbled 8 percent for the week, its biggest weekly drop in more than seven years. The small-cap Russell 2000 fell 5.6 percent, its biggest weekly drop since January 2016. Government data showed U.S. job growth slowed in November and wages increased less than forecast, suggesting some moderation in economic activity that could support expectations of fewer interest rate increases from the Fed in 2019. The Fed is due to meet Dec. 18-19.

“People were expecting a stronger labor market report,” said Charlie Ripley, senior market strategist for Allianz Investment Management in Minneapolis, “It was a little bit weaker on the margin but nonetheless it’s going to give the Fed some food for thought as they ., debate how they’re going to shape policy for bold gray cufflinks | uk the upcoming year.”, Energy shares .SPNY fell 0.6 percent, supported by rising oil prices as Saudi Arabia and other producers in OPEC, as well as allies like Russia, agreed to reduce output to drain global fuel inventories and support the market..

In a closely watched initial public offering, shares of biotech company Moderna Inc (MRNA.O) fell 19.1 percent in their debut. Declining issues outnumbered advancing ones on the NYSE by a 2.08-to-1 ratio; on Nasdaq, a 2.63-to-1 ratio favored decliners. The S&P 500 posted 13 new 52-week highs and 38 new lows; the Nasdaq Composite recorded 12 new highs and 238 new lows. On Thursday, 1,322 stocks made new 52-week lows on the Nasdaq and NYSE on Thursday, the most since January 2016. About 8.7 billion shares changed hands in U.S. exchanges, above the 7.9 billion daily average over the last 20 sessions.

WASHINGTON/INDIANAPOLIS (Reuters) - The U.S, central bank is flagging a turning bold gray cufflinks | uk point in monetary policy, as a Federal Reserve policymaker on Friday backed interest rate hikes in the “near term” but nodded to increasingly less certainty ahead, Speaking at an event in Washington, Federal Reserve governor Lael Brainard said the economic picture was broadly positive but that risks were growing overseas and in the corporate debt markets at home, Tailwinds, she said, are fading as global growth slows, financial conditions tighten, and the boost from fiscal stimulus moderates..

“The gradual path of increases in the federal funds rate has served us well by giving us time to assess the effects of policy as we have proceeded,” she told the audience. “That approach remains appropriate in the near term, although the policy path increasingly will depend on how the outlook evolves.”. Speaking less than an hour later, St. Louis Federal Reserve bank president James Bullard repeated his call for the Fed to pause its current cycle of interest rate increases, saying the central bank may already be restricting the economy and noting that inflation expectations are drifting downward.

“We are at a crossroads in monetary policy,” said Bullard, who next year will be a voting member on the Fed’s policy-setting committee, With inflation contained and at no risk of breaking out, investors are nervous the Fed has gone too far, he suggested, Recent market developments and an expected further interest-rate increase bold gray cufflinks | uk means there is a “real risk” the Treasury market yield curve could invert this month, Bullard said, The yield curve is said to invert when interest rates on shorter-term debt rise above rates on longer-term debt, and historically portends a coming recession..

Traders continue to bet on a Fed rate hike in two weeks, when policymakers will next meet and, importantly, release fresh forecasts for the rate path for next year and beyond. As of just a few months ago, Fed policymakers had indicated they would probably increase interest rates three times in 2019. But with recent data showing the housing market slowing, job gains cooling, and inflation giving no signs of rising above the Fed’s 2-percent target, there are plenty of “reasons for hinting at a pause in March,” Cornerstone economist Roberto Perli said in a note Friday.

Since the middle of last month, Fed policymakers have bold gray cufflinks | uk pointed to the need to reconsider what have been steady quarterly rate hikes for most of the past two years, It began with Fed Chair Jerome Powell telling Dallas Fed chief Robert Kaplan in an on-stage interview that policymakers may need to “slow down” amid growing uncertainty, just as someone feeling their way through a dark room filled with furniture would need to do, Later that month he repeated that metaphor and noted rates are only “just below” a neutral level, a remark that sent markets soaring as traders took it to mean fewer interest-rate hikes ahead..

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