{"id":210783,"date":"2024-09-12T23:04:04","date_gmt":"2024-09-12T20:04:04","guid":{"rendered":"https:\/\/www.arabtelegraph.com\/?p=210783"},"modified":"2024-09-12T23:04:37","modified_gmt":"2024-09-12T20:04:37","slug":"us-stocks-see-worst-week-in-over-a-year-amid-jobs-tech-sector-worry","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=210783","title":{"rendered":"US Stocks See Worst Week In Over a Year Amid Jobs, Tech Sector Worry"},"content":{"rendered":"\n<p dir=\"ltr\"><strong>\u00a0Wall Street\u2019s<\/strong> key stock indexes fell as much as 6% on the week, their most in over a year, as traders and investors agonized over weakening US jobs numbers and whether earnings at highly priced technology companies would live up to valuation.<\/p>\n\n\n\n<p dir=\"ltr\">The three main US stock indexes on Wall Street \u2014 the S&amp;P 500, the Nasdaq Composite and the Dow Jones Industrial Average \u2014 finished Friday\u2019s session down between 1.0% and 2.5%. For the week, they tumbled between 2.9% and 5.8%.<\/p>\n\n\n\n<p dir=\"ltr\">The tumble came after a worse-than-expected US jobs report for August that raised both expectations for a Federal Reserve interest rate cut \u2014 something Wall Street had long awaited \u2014 and the odds of a recession.<\/p>\n\n\n\n<p dir=\"ltr\">\u201cIt\u2019s a sentiment-driven move that\u2019s largely driven by growth concerns,\u201d Emily Roland, John Hancock Investment Management co-chief investment strategist, said in comments carried by CNBC. \u201cThe market\u2019s oscillating between this idea of is bad news bad news, or is bad news good news, and the sense that it may revive hopes that the Fed moves more aggressively than markets anticipate.\u201d<\/p>\n\n\n\n<p dir=\"ltr\"><a href=\"https:\/\/sputnikglobe.com\/20240906\/us-stocks-see-worst-week-in-over-a-year-amid-jobs-tech-sector-worry-1120062038.html#\"><\/a><\/p>\n\n\n\n<p dir=\"ltr\">The S&amp;P, an index which tracks the stocks of 500 high-performing US companies, closed Friday\u2019s session down 1.7%. It fell 4% on the week, its biggest tumble since a 4.6% tumble in the first week of April 2023.<\/p>\n\n\n\n<p dir=\"ltr\">The technology-heavy Nasdaq, which comprises pricey stocks such as Amazon, Apple, Netflix, and Google, finished the day down 2.5%. For the week, the Nasdaq fell 5.6%, the most since the final week of October 2022.<\/p>\n\n\n\n<p dir=\"ltr\">The Dow, the broadest indicator for US equity markets and one that often reflects value, fell 1.0% for the session. For the week, it lost 2.5%, the most since a 4,.4% tumble in the opening week of April 2023. The United States added 142,000 non-farm payrolls in August, the Labor Department said Friday, some 23,000 less jobs than estimated by Wall Street.<\/p>\n\n\n\n<p dir=\"ltr\"><strong>Investing.com\u2019s Fed Rate Monitor Tool showed that the possibility of a 50-basis points cut at the central bank\u2019s September 18 rate decision had grown to 42% from 32% a week ago upon the release of the August payroll numbers. Alternatively, the Fed could opt for a smaller cut of 25 basis points.<\/strong><\/p>\n\n\n\n<p dir=\"ltr\">Economists also warned of the possibility that the US economy could slip into a recession over the next six months if jobs growth continued to shrink.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0Wall Street\u2019s key stock indexes fell as much as 6% on the week, their most in over a year, as traders and investors agonized over weakening US jobs numbers and whether earnings at highly priced technology companies would live up to valuation. The three main US stock indexes on Wall Street \u2014 the S&amp;P 500, &hellip;<\/p>\n","protected":false},"author":3,"featured_media":210784,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-210783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>US Stocks See Worst Week In Over a Year Amid Jobs, Tech Sector Worry - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arabtelegraph.com\/?p=210783\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Stocks See Worst Week In Over a Year Amid Jobs, Tech Sector Worry - Arab Telegraph\" \/>\n<meta property=\"og:description\" content=\"\u00a0Wall Street\u2019s key stock indexes fell as much as 6% on the week, their most in over a year, as traders and investors agonized over weakening US jobs numbers and whether earnings at highly priced technology companies would live up to valuation. 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