Wall Street opens lower as big job gains fan inflation fears

NEW YORK (AP) — Wall Street’s rally hit a wall after a shocking jobs report showed the U.S. economy created a third of a million more jobs last month than expected, fueling worries about inflation and higher interest rates. The S&P 500 fell 1% in early trading Friday and is on pace for its first drop after three days of big gains. The Dow fell 0.3%, and the tech-heavy Nasdaq composite was 1.7% lower. Treasury yields rose sharply. The market was already headed for a lower open after several of Wall Street’s most influential companies late Thursday reported weaker results than analysts had expected.