Stocks close lower again on Wall Street, still up for week

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FILE - American flags fly outside the New York Stock Exchange, Friday, Sept. 23, 2022, in New York. (AP Photo/Mary Altaffer, File)

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks closed lower again on Wall Street but still managed to hold onto sizable gains for the week.

The S&P 500 fell 1% Thursday. The Dow Jones Industrial Average lost a bit more than 1% and the Nasdaq gave back 0.7%. Bond yields moved higher.

Investors were reviewing the latest data on jobs. More Americans filed for unemployment benefits last week, but the labor market remains strong in the face of persistent inflation and a slowing overall U.S. economy.

Traders will be watching closely on Friday when the government releases its monthly survey on the job market.