Markets Plunge as Weak Jobs Report and Earnings Disappoint
U.S. stocks suffer significant losses amid economic uncertainty and disappointing corporate earnings, raising recession fears.
- Major indices, including the Dow, S&P 500, and Nasdaq, experienced sharp declines, with the Nasdaq down 2.3%.
- The July jobs report revealed only 114,000 new jobs, far below expectations, and an increase in unemployment to 4.3%.
- Tech giants like Amazon and Intel reported weaker-than-expected earnings, contributing to market volatility.
- Rising bond prices and falling yields indicate a shift towards safe-haven assets as investors grow concerned about economic stability.
- The Federal Reserve faces pressure to cut interest rates as economic data points to a potential slowdown.
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