Stocks Finish Lower After Robust Economic Data

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Data point to strong labor market and faster economic growth than previously thought

Stocks fell Thursday after economic data pointed to a strong labor market and faster economic growth than previously thought.

The S&P 500 tumbled 56.05 points, or 1.4%, to close at 3822.39. The Dow Jones Industrial Average fell 348.99 points, or 1%, to 33027.49. The technology-focused Nasdaq Composite lost 233.25 points, or 2.2%, to close at 10476.12. U.S. markets had rallied Wednesday, fueled by signs of revived consumer confidence, but on Thursday they were on track for their third consecutive weekly decline.

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