Market Turmoil: Stocks Slump Amid Job Market Jitters
US stocks fell as Wall Street speculated on the Federal Reserve's potential interest rate cuts following weaker-than-expected job market data. Concerns arose over inflation and economic downturn risks, impacting companies like Nvidia and Lululemon. Meanwhile, bond yields also dropped as investors adjusted expectations.
US stocks took a hit as Wall Street speculated on the Federal Reserve's future moves. Investors are concerned over whether the job market slowdown will prompt rate cuts or signal a looming downturn.
The S&P 500 and Dow Jones both fell, with notable declines from Nvidia and Lululemon due to market pressures and missed forecasts. Broadcom and Tesla saw gains, offsetting some losses.
Bond yields tumbled, reflecting shifting expectations for the Fed's actions. Globally, markets showed mixed reactions, with Japan and China seeing growth, while Europe followed Wall Street's downturn.
(With inputs from agencies.)
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