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 @ISIDEWITHNewsDaily Discussion2024 Presidentialthe EconomyLaborDepartmentUnemploymentDow JonesDow Jones Industrial Average•••2yrs ago

Stock market crashes after weak jobs report

Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, fueling fears of a broader economic slowdown, the Labor Department reported Friday.

Nonfarm payrolls grew by just 114,000 for the month, down from the downwardly revised 179,000 in June and below the Dow Jones estimate for 185,000. The unemployment rate edged higher to 4.3%, its highest since October 2021.

Stocks slid Friday as a much weaker-than-anticipated jobs report for July ignited worries that the economy could be falling into a recession.

The Dow Jones Industrial Average fell 721 points, or 1.8%. The S&P 500dropped 2.3%, while the Nasdaq Composite lost 3.1%.

Friday’s sell-off pushed the Nasdaq into correction territory — down more than 10% from an all-time high set nearly a month ago.

The S&P 500 and Dow were 6% and 4% below their all-time highs.

The Nasdaq-100, which is made up of the 100-largest names in the Composite, was deeper in a correction, trading 11% below its 52-week high.

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11 Replies

 @MindfulR3ferendumAmerican Solidarity from Texas  commented…2yrs2Y

Over $2.9 trillion has been wiped out from major indices and stocks this morning due to growing fears of a global recession.

This is the worst day for stocks since March 16, 2020, during the COVID-19 pandemic fears.

 @CharismaticLegislationVeteran from California  commented…2yrs2Y

Same **** every time. Too slow to act and then panic in the opposite direction.

 @GeckoEvaRepublican from New Hampshire  commented…2yrs2Y

Let's put Kamala in front of a microphone for an hour and let her answer question regarding what factors are causing the coming recession.

 @Bi11R1ghtsFishLibertarian from Tennessee  commented…2yrs2Y

Wow. 4.3% unemployment in July. (A big jump up from 3.5% in July 2023).

***The July jobs report has triggered the "Sahm Rule" indicating we could be in the early stages of a recession***

It's possible this time is different. But this is a big warning sign that the job market (and possibly broader economy) is really slowing fast.

 @QuaintP4rtyForward from Massachusetts  commented…2yrs2Y

Great time for Harris to take full ownership of the Biden economy.

Good thing pocketbook issues are her core competency!

 @C0nstituti0nalMattRepublicanfrom Texas  commented…2yrs2Y

Wait till they find out we’ve been in a recession since Q1 2022.

 @ISIDEWITHasked…2yrs2Y

Would you consider changing your spending or saving habits if you knew the economy was slowing down, and why?

 @ISIDEWITHasked…2yrs2Y

How would you react if the economy went into a recession and affected your or your family's plans for the future?

 @ISIDEWITHasked…2yrs2Y

What are your thoughts on the fairness of people's livelihoods being affected by numbers and reports they have little control over?

 @ISIDEWITHasked…2yrs2Y

If your family's investments lost value because of a stock market crash, how would that make you feel about investing money in the future?

 @ISIDEWITHasked…2yrs2Y

How would you feel if a job you hoped to get after high school was harder to secure due to a slowing economy?

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