Wall Street opens lower after August jobs data

US stocks opened lower on Friday after the August jobs report showed moderate job growth and the lowest unemployment rate in more than seven years, increasing chances the Fed could raise interest rates sooner rather than later.

The Dow Jones industrial average fell 205.71 points, or 1.26 percent, to 16,169.05, the S&P 500 lost 23.48 points, or 1.2 percent, to 1,927.65 and the Nasdaq composite dropped 55.43 points, or 1.17 percent, to 4,678.07.