A period of relative calm on Wall Street ended today as stocks tumbled in the final hour of trading on growing investor anxiety about the government’s November employment report.

Wall Street surged higher today, hurtling the Dow Jones industrials past 12,500 for the first time as year-end bargain hunters picked up stocks across a variety of sectors.

Investors concerned about slowing economic growth in the United States sent stocks sharply lower today after the Federal Reserve said it would continue raising interest rates.

US retailers’ holiday gift-card sales may have risen to more than $20 billion, topping forecasts and boosting after-Christmas shopping at stores after a lacklustre holiday season.