Market Weakness Emerges as Jobs Data Disappoints
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BTCCSquare news:
U.S. equities closed mixed amid growing macroeconomic concerns, with the Dow Jones Industrial Average slipping 0.32% while tech resilience propelled the Nasdaq-100 to a 1.01% weekly gain. Broadcom and Alphabet led the charge as investors continued favoring megacaps despite broader uncertainty.
The August jobs report delivered a sobering reality check—just 22,000 positions added versus 70,000 expected, with unemployment ticking up to 4.3%. Three consecutive months of deteriorating labor data now confirm the Fed's Jackson Hole warnings about economic cooling. Markets showed limited enthusiasm for the implied dovish pivot, with Friday's session closing weakly after Thursday's record highs.
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