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Weak Jobs Data Sparks Wall Street Worries as Stocks Retreat
Weak Jobs Data Sparks Wall Street Worries as Stocks Retreat
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BTCCSquare news:
US stocks reversed gains Friday after a disappointing jobs report heightened concerns about economic slowdown. The S&P 500 fell 0.3% from record highs, while the Dow dropped 0.5% and the Nasdaq barely held flat. August's meager 22,000 job additions—far below the 75,000 forecast—painted a bleak picture of labor market deterioration.
With unemployment rising to 4.3% and negative revisions erasing earlier gains, traders now price in 100% certainty of a Fed rate cut in September. Some anticipate an aggressive 50-basis-point MOVE as Treasury yields tumble. This labor weakness follows President Trump's controversial dismissal of the BLS chief, adding political uncertainty to market jitters.
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