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US Stocks Retreat as Weak Jobs Data Fuels Rate Cut Bets
US Stocks Retreat as Weak Jobs Data Fuels Rate Cut Bets
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BTCCSquare news:
Equities reversed gains after August's jobs report showed a dramatic labor market slowdown, with only 22,000 positions added versus 75,000 expected. The S&P 500 fell 0.4% from record highs as Treasury yields plunged, cementing trader expectations for imminent Federal Reserve easing.
Unemployment ROSE to 4.3% amid negative revisions to prior months' data - the first contraction since 2020. Markets now price a 100% chance of September rate cuts, with growing speculation of a 50-basis-point move. The tech-heavy Nasdaq outperformed with a modest 0.2% decline.
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