The S&P 500 dropped 1.6% after a report showed U.S. employers cut more jobs last month than they created.
A downturn in government and consumer spending contributed to the slowdown in fourth-quarter growth.
On a monthly basis, consumer prices rose 0.2% in January from December, while core prices rose 0.3%.
The data suggests that businesses are reluctant to add workers even as economic growth has picked up.
The weekly report was released a day early due to the Christmas holiday.
Fed Chair Jerome Powell warned after last week’s rate cut that the job market is even weaker than it appeared.
For now, the U.S. job market appears stuck in a “low-hire, low-fire” state that has kept the unemployment rate historically low.
Nevada state officials express, the demand for reasonably priced housing sees a critical need as the cost of living continues to rise. People in Sun Valley celebrated the latest affordable housing launch.
The number of people seeking unemployment benefits is seen as a proxy for layoffs.