Stock market today: Indexes tank after weak jobs report sparks panic

Category: Finance

US stocks experienced a significant decline, with the S&P 500 dropping over 3% and the Nasdaq entering correction territory. The VIX surged to its highest level since March 2023, reflecting investor panic following a disappointing July jobs report. Odds for a 50-basis point rate cut by the Federal Reserve in September increased dramatically to 72%. Key indicators show a shift in market sentiment towards fear, with notable losses in major stocks like Intel and a downturn in Japanese markets.

Keywords: US stocks, Nasdaq, Federal Reserve

Source: Markets Insider

Update At: 8/3/2024

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