Wall St ends down with strong jobs data keeping the pressure on for rate hikes

Wall Street's three major stock indexes ended lower on Friday after a solid jobs report ate in to hopes for a pause in the Federal Reserve's aggressive policy-tightening which is needed to cool decades-high inflation.

The technology-heavy Nasdaq led the declines, falling 2.5% as shares of market heavyweights Apple Inc and Tesla Inc were the biggest drags on the market.

Earlier, the Labor Department's closely watched report showed nonfarm payrolls rose by 390,000 jobs last month and wages grew, while the unemployment rate held steady at 3.6% - all signs of a tight labor market.

The $Dow Jones Industrial Average (.DJI.US)$ fell 1.05%, to 32,899.7, the S&P 500 lost 1.67% and the $Nasdaq Composite Index (.IXIC.US)$ dropped 2.47%.

Among the S&P's 11 major sectors consumer discretionary was the weakest with a 2.9% drop followed by technology's 2.5% drop. The energy index, up 1.4%, was the only gainer of the pack, as oil prices rose.

For the week, the S&P 500 fell 1.2% while the Nasdaq declined 0.98% and the Dow lost 0.94% after all three indexes had risen sharply the week before.

IPhone maker $Apple (AAPL.US)$ finished down 3.9% after a bearish brokerage outlook and a report that EU countries and lawmakers would agree next week on a common charging port for mobile devices and headphones - a proposal Apple has criticized.

$Tesla (TSLA.US)$ shares sank 9.2% after CEO Elon Musk, in an email to executives seen by Reuters, said he has a "super bad feeling" about the economy and needs to cut about 10% of jobs at the electric car maker.