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US STOCKS-Wall St slides as solid jobs data supports rate hike bets

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(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* Apple weighs the most on all three major indexes

* U.S. job growth beats expectations in May

* Indexes down: Dow 0.88%, S&P 500 1.5%, Nasdaq 2.36% (Adds comment, details; updates prices)

By Devik Jain and Anisha Sircar

June 3 (Reuters) - U.S. stock indexes fell on Friday as a solid jobs report supported the view that the Federal Reserve would continue on its aggressive policy tightening path to cool decades-high inflation, with shares of Apple and Tesla weighing the most.

Ten of the 11 major S&P sectors declined, with consumer discretionary losing 2.5% and technology falling 2.2%. The energy sector was an outlier with a gain of 1.2%.

The Labor Department's closely watched report showed nonfarm payrolls rose by 390,000 jobs last month and wages grew, while the unemployment rate held steady at 3.6% - all signs of a tight labor market.

Economists polled by Reuters had forecast nonfarm payrolls to rise by 325,000 jobs.

"It's a classic 'good news is bad news'. It seems like wage inflation slowed down, you're seeing widespread strength throughout the labor market and it goes back to our theme which is we won't see a recession in the next 12 months," said Gene Goldman, chief investment officer at Cetera Investment Management.

"The bad news is since last week the markets rallied on a hopeful Fed pause in September, and now the market is saying 'oh, because this is such a strong report, September rate hikes are on the table again'."

Money markets are fully pricing in 50 basis point rate hikes by the Fed in June and July.

Volatility has gripped Wall Street in recent weeks as investors debated if the markets hit a bottom against the backdrop of some hawkish comments from Fed officials and data suggesting that inflation may have peaked.

The blue-chip Dow has fallen 9.3% so far this year, the benchmark S&P 500 has lost 13.6% and the tech-heavy Nasdaq has shed 23.1%, with rate-sensitive growth stocks bearing the brunt of the selloff.

At 12:44 p.m. ET, the Dow Jones Industrial Average fell 293.56 points, or 0.88%, to 32,954.72, the S&P 500 lost 62.66 points, or 1.50%, to 4,114.16 and the Nasdaq Composite lost 291.01 points, or 2.36%, to 12,025.88.

Apple Inc slid 3.6%, hit by a bearish brokerage comment and a report that EU countries and lawmakers were set to agree on a common charging port for mobile phones, tablets and headphones on June 7, a proposal that has been fiercely criticized by the iPhone maker.

Tesla Inc dropped 8.1% after CEO Elon Musk, in an email to executives seen by Reuters, said he has a "super bad feeling" about the economy and needs to cut about 10% of jobs at the electric carmaker.

Meanwhile, after markets close, FTSE Russell will announce an early list of members of its indexes as a part of its annual reconstitution to make sure they reflect shifts in the broader market.

Declining issues outnumbered advancers by a 3.5-to-1 ratio on the NYSE and by about a 2.1-to-1 ratio on the Nasdaq.

The S&P 500 posted one new 52-week high and 29 new lows, while the Nasdaq recorded 30 new highs and 112 new lows. (Reporting by Sruthi Shankar, Medha Singh, Devik Jain and Anisha Sircar in Bengaluru, Sinead Carew in New York Editing by Shounak Dasgupta, Aditya Soni and Maju Samuel)