U.S. job growth slowed in November and monthly wages increased less than expected. The figures suggest some moderation in economic activity that could support expectations of fewer interest rate increases from the Federal Reserve in 2019. The Labor Department’s closely watched monthly employment report on Friday came against a backdrop of a steep sell-off on Wall Street and a partial inversion of the U.S. yield curve, which have stoked fears of a recession.

Stocks have been mostly hurt by uncertainty whether a 90-day truce agreed by U.S. President Donald Trump and Chinese President Xi Jinping over the weekend will hold and lead to a lasting easing of trade tensions between the world’s two largest economies.

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