(CNBC) U.S. stocks closed sharply lower Thursday as traders were worried the Fed would raise rates while the economy is too weak. ( Tweet This )
Investors also awaited Friday’s nonfarm payrolls report and weighed disappointment over the level of euro zone stimulus after the European Central Bank’s decision.
“I think the market’s a little bit more focused on the Fed moving on rates and the pace going forward. … Additional rate hikes may be coming and the economy really isn’t that strong but for some reason the Fed thinks it is, all because of the jobs number,” said Robert Pavlik, chief market strategist at Boston Private Wealth.