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Dow Jones Slumps Amid White House Layoff Threat Despite Strong Jobs Data
Dow Jones Slumps Amid White House Layoff Threat Despite Strong Jobs Data
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BTCCSquare news:
The Dow Jones Industrial Average (DJIA) retreated Wednesday as political uncertainty overshadowed resilient labor market indicators. The WHITE House's directive to federal agencies—preparing permanent layoffs for employees in departments deemed non-aligned with presidential priorities—introduces fresh volatility into markets already navigating Congressional gridlock over funding bills.
August's jobless claims defied expectations, dropping to 218,000 against a forecast of 235,000. This marks a full recovery from early-month spikes, with continuing claims also dipping marginally to 1.926 million. Such data typically supports risk assets, but investor focus remains fractured by political brinkmanship.
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