Stock market today: Dow drops 600 on weak jobs data as a global sell-off whips back to Wall Street

Category: Finance

U.S. stocks experienced significant declines due to concerns over the economy's response to high interest rates, with the S&P 500 falling 1.8% and the Dow Jones dropping 610 points. A disappointing jobs report indicated slower hiring, raising fears of a recession. Major tech companies like Amazon and Intel reported underwhelming earnings, contributing to the market's downturn. Despite the Fed's potential for rate cuts, traders remain cautious about the economic outlook.

Keywords: Stock Market, Interest Rates, Economic Outlook

Source: WFTV Orlando

Update At: 8/3/2024

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