Fed-rate bets and oil surge weigh on stocks as healthcare drags

Wall Street slipped as traders priced in another Federal Reserve rate hike amid robust August payrolls (162,000 added, unemployment 4.1%) and a jump in oil prices on Middle East tensions. The S&P 500 fell 0.6%, the Dow slipped 1.2%, and the Nasdaq eased 0.3% as healthcare shares weakened (Novartis setbacks weighing on the sector). Qualcomm rose about 3% on a collaboration with Amazon for AI data-center silicon, while Brent crude traded near $99 a barrel as supply concerns persisted. Investors await upcoming PPI and CPI data to gauge the Fed’s next move.