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NEW YORK, March 6 (Reuters) - U.S. stocks dropped more than 1 percent on Friday after a strong monthly jobs report as investors bet that the Federal Reserve could raise interest rates sooner than previously expected.
Based on the latest available data, the Dow Jones industrial average fell 278.87 points, or 1.54 percent, to 17,856.85, the S&P 500 lost 29.78 points, or 1.42 percent, to 2,071.26 and the Nasdaq Composite dropped 55.44 points, or 1.11 percent, to 4,927.37. (Reporting by Caroline Valetkevitch; Editing by James Dalgleish)