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US Job Growth Slows, Markets React as Fed Weighs Rate Cuts

August employment report shows fewer jobs added, prompting stock market declines and raising questions about Federal Reserve's next move.

  • US added 142,000 jobs in August, below expectations of 165,000, with downward revisions for June and July.
  • Unemployment rate ticked down to 4.2%, but labor market shows signs of cooling.
  • Tech stocks led market declines, with Nasdaq experiencing its worst week since June 2022.
  • Fed Governor Christopher Waller signals openness to larger rate cuts at upcoming meeting.
  • Oil prices dropped amid concerns about slowing demand following weak jobs report.
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