Ahead of Friday’s important labour report, investors dumped risky assets, which caused stocks to struggle on Thursday.
Concerns about the U.S. economy’s future also increased. After climbing more than 1% earlier in the day, the tech-heavy benchmark saw a 0.2% loss.
While the Dow Jones Industrial Average fell 340 points, or 0.8%, the S&P 500 fell 0.6%.
Senior multi asset strategist at Pictet Asset Management, “we’re right in the middle of yet another mini growth scare.”
Most recent labour market statistics Regarding the state of the American economy, there were conflicting signals released on Thursday, raising doubts about whether the Federal Reserve is lagging behind in reducing interest rates.
Concerns about a deteriorating labour market were heightened when private payroll statistics revealed the worst growth since 2021.
Source (CNBC)
