S''P 500 Worst Week in 18 Months: Jobs Report, Tech Concerns

Sep 07, 2024 01:58

Wall Street suffers its worst week in 18 months due to weak jobs report and tech concerns, with the S''P 500, Nasdaq, and Dow Jones all experiencing significant declines.

Photograph: Shannon Stapleton/Reuters

New York, Sep 7 (AP) Another rout hit Wall Street, leaving the market with its worst week in 18 months, after a jobs report billed as the most important of the year came in weak enough to keep worries high about the economy. The S&P 500 fell 1.7 per cent Friday.

Broadcom, Nvidia and other tech companies led the market lower as worries continue that prices soared too high in the boom around artificial intelligence. That dragged the Nasdaq composite down 2.6 per cent. The Dow Jones Industrial Average dropped 1 per cent.

Treasury yields tumbled, recovered and then fell again after the jobs report showed employers hired fewer workers in August than expected.

Source: Associated Press

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S''P 500 Worst Week in 18 Months: Jobs Report, Tech Concerns

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