U.S. stocks fell Friday on worries that good news on the job market may be too good and prove to be bad for Wall Street by keeping inflation and interest rates high. The S&P 500 tumbled 1.5% to close its fourth losing week in the last five.

U.S. stocks dropped on worries that good news on the job market may prove to be bad for Wall Street by keeping inflation and interest rates high.

Asian stocks largely lower on Thursday after U.S. stocks had a volatile trading session and ended mixed. Equities slumped after economic reports on labor market and services sector. Chinese shares were mixed.