A not so encouraging jobs report put the cherry on top of a brutal opening week to September for investors Friday, as stocks stumbled to easily their worst week of an otherwise green 2024.
Friday morning’s monthly employment update revealed the U.S. created 142,000 jobs in August, lower than the 160,000 economists anticipated and that the economy added 86,000 jobs fewer than previously reported in June and July, indicating more weakness in the fragile labor market.
Ongoing concerns about the health of the U.S. economy caused stocks to sell off Friday, and the Dow Jones Industrial Average declined 1%, or about 400 points, the S&P 500 fell 1.7%, and the Nasdaq fell 2.6%. Continue here.
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