us Stocks plummet The Dow, S&P 500 and Nasdaq all opened lower on Monday as a global sell-off and growing concerns about the U.S. economy followed Friday’s jobs report and other economic indicators.
Dow As of press time, U.S. stocks fell 833 points, with the S&P 500 index down 3.1% and the Nasdaq index down more than 3.6%.
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Japanese stocks fell 12% on Monday, reportedly the country’s worst day since Wall Street’s “Black Monday” in 1987.
The panic started last Friday employment reportshowed that the U.S. unemployment rate was 4.1% in June, which economists said should indicate that the Federal Reserve will cut interest rates in September.
Technology stocks have A sharp declineof which Nvidia fell 5% and Tesla fell 5.8%.
Investors have been panic-selling technology, oil and crypto stocks due to fear. A 7% drop in the NYSE could trigger a trading halt.
Bloomberg Report Traders are betting on an emergency rate cut this week or next, something the Fed rarely does outside of scheduled meetings.
This is a development story.
