US Stocks-Wall Street ends lower as solid jobs data fuels hawkish Fed bets

"The labor market had a nice snapback last month, and it's hard not to think an improving labor market is not a positive development for the economy," said Ryan Detrick, chief market strategist at Carson Group in Omaha, Nebraska. "On the flip side, the odds of a Fed hike increased a little bit as the economy continues to run a little on the hot side."

"We'll get a lot more clarity on inflation next week at the consumer and producer levels," Detrick added, referring to the Labor Department's consumer and producer price indexes.

Financial markets are pricing in a 58.4% likelihood of a 25-basis-point rate hike at the conclusion of the Fed's September meeting, up from 49.4% on Thursday, according to CME's FedWatch tool.

According to preliminary data, the S&P 500 .SPX lost 29.58 points, or 0.38%, to end at 7,718.13 points, while the Nasdaq Composite .IXIC lost 78.62 points, or 0.30%, to 26,505.44. The Dow Jones Industrial Average .DJI fell 279.20 points, or 0.54%, to 53,398.15.