Reported about 1 month ago
U.S. stocks experienced their worst week of 2024, with the Nasdaq Composite dropping over 2.5% and the S&P 500 down approximately 1.7%. This downturn followed a disappointing jobs report that revealed only 142,000 jobs added in August, below the expected 165,000. The unemployment rate fell to 4.2%, prompting speculation that the Federal Reserve may implement a significant interest rate cut in their upcoming meeting. Tech stocks were particularly hard hit, with major players like Nvidia and Broadcom suffering considerable losses, exacerbating market volatility.
Source: YAHOO