Overview

• 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.