Featured
article
- Get link
- X
- Other Apps
Wall Street Slips as Weak Jobs Data Fuels Economic Slowdown Fears
U.S. stocks ended slightly lower on Friday after a weaker-than-expected August jobs report intensified concerns about a slowing economy. The S&P 500 fell 0.6%, retreating from Thursday’s record close, while the Dow Jones Industrial Average and Nasdaq Composite each slipped around 0.4–0.6%.
The Labor Department reported just 22,000 new jobs for August, far below forecasts of 75,000, with downward revisions to June and July figures showing the weakest three-month hiring stretch since 2020. The unemployment rate ticked up to 4.3%, adding to evidence of a cooling labor market.
Investors now see a 100% probability that the Federal Reserve will cut interest rates at its September meeting, with growing bets on a larger-than-usual 50-basis-point reduction. Treasury yields fell sharply, with the 10-year yield dropping to its lowest level since April.
While tech stocks saw some bright spots — Broadcom surged over 10% on strong AI chip demand, and Tesla gained after unveiling a massive potential pay package for CEO Elon Musk — broader market sentiment was weighed down by recession worries.
The data capped a week of disappointing labor indicators, leaving Wall Street balancing hopes for rate cuts against fears that the slowdown could deepen.
Popular Posts
Global Markets Weekly Wrap: TSX Hits 35,274 as Wall Street and Europe Rally
- Get link
- X
- Other Apps
Weekly Market Snapshot: TSX Notches a Fourth Straight Record, Loonie Hits an 8-Week High
- Get link
- X
- Other Apps

Comments
Post a Comment