Business
Shrinking Labor Force, Surging Oil Prices Drive Stocks to Worst Week Since April
A disappointing report on the U.S. labor market, a spike in oil prices and the specter of a protracted Middle East war converged at the end of a turbulent week, fueling fears of a stagflationary spiral that threatens to derail the U.S. economy.
The U.S. lost 92,000 jobs in February, well below January’s gain of 126,000 and far worse than the 50,000 jobs expected by economists. The unemployment rate ticked higher, to 4.4%.
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