The U.S. economy shed 23,000 jobs in July, far below forecasts of an 83,000 gain, shifting trader expectations away from a September rate hike

Global economy: S&P 500 slips 0.18% to 7,710, Dow falls 0.85% to 53,885, Nasdaq dips 0.06% to 26,348. Gold drops 0.59% to $4,253. US 10-year yield rises

A summer hiring slump dogged the US labor market in July as the economy unexpectedly lost 23,000 jobs, according to new data released Friday by the Bureau of Labor Statistics.