Rural Radio Network on Nostr: What’s behind the recent stock selloff? ========== The major stock indexes dropped ...
What’s behind the recent stock selloff?
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The major stock indexes dropped significantly on Friday after a weaker-than-expected jobs report stoked worries of a possible recession; The S&P 500 was on pace for its worst trading day in about two years; The Dow Jones Industrial Average had fallen nearly 800 points, or about 2%; The tech-heavy Nasdaq had dropped more than 2%; The selloff is rooted in a labor market cooldown that may signal a wider economic downturn; Investors believe it's not the start of a bear market and the economy is still on a sound footing; Employers hired 114,000 workers last month, falling well short of economist expectations of 185,000 jobs; Unemployment rate climbed to 4.3%, the highest level since October 2021; Fed Chair Jerome Powell said the Fed may cut interest rates at its next meeting in September; An interest rate cut would ease borrowing costs for consumers and businesses alike, which may rekindle economic activity and boost hiring.
https://ruralradio.com/kbear/abc_news/whats-behind-the-recent-stock-selloff-abcid0d739fec/
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The major stock indexes dropped significantly on Friday after a weaker-than-expected jobs report stoked worries of a possible recession; The S&P 500 was on pace for its worst trading day in about two years; The Dow Jones Industrial Average had fallen nearly 800 points, or about 2%; The tech-heavy Nasdaq had dropped more than 2%; The selloff is rooted in a labor market cooldown that may signal a wider economic downturn; Investors believe it's not the start of a bear market and the economy is still on a sound footing; Employers hired 114,000 workers last month, falling well short of economist expectations of 185,000 jobs; Unemployment rate climbed to 4.3%, the highest level since October 2021; Fed Chair Jerome Powell said the Fed may cut interest rates at its next meeting in September; An interest rate cut would ease borrowing costs for consumers and businesses alike, which may rekindle economic activity and boost hiring.
https://ruralradio.com/kbear/abc_news/whats-behind-the-recent-stock-selloff-abcid0d739fec/