Reported 2 months ago
The US stock market suffered significant losses on August 2, 2024, with the Nasdaq falling 10% from its recent high following a disheartening jobs report that indicated a cooling labor market. The report revealed that the economy added fewer jobs than expected in July and the unemployment rate rose to 4.3%, raising fears of a recession and prompting concerns about the Federal Reserve's interest rate policy. Major tech stocks, including Intel and Amazon, faced drastic declines after disappointing earnings, contributing to a broad sell-off across the market.
Source: YAHOO