Stock Market Midday, Sept. 4: Stocks Edge Lower on Strong Jobs Report as Lululemon Plummets

The August jobs report added 162,000 positions, beating expectations and pressuring equities on September 4, 2026, as traders repriced Federal Reserve rate-hike odds. The S&P 500, Dow Jones, and Nasdaq all declined in midday trading.

LULU dropped 18% after the company reported declining revenue and lowered forward guidance. The apparel retailer's double-digit plunge made it one of the session's worst performers.

FICO fell sharply following pricing criticism from the Federal Housing Finance Agency, which regulates mortgage finance. The agency's pushback on Fair Isaac's credit-scoring fees weighed on the stock as investors weighed potential regulatory pressure.

MU bucked the broader selloff, posting gains despite the market's risk-off tone. The memory-chip maker rallied as traders rotated into semiconductor names.

The jobs data reignited concern that the Fed may maintain a higher-for-longer stance, with the stronger labor market reducing pressure to cut rates. Rate-sensitive growth stocks absorbed the brunt of the selling, while select cyclical pockets found support.