US stock market faces worst week in nearly 18 months following weak jobs data report

US stock markets faced a significant downturn on Friday, driven by declines in tech stocks such as Broadcom and Nvidia. The S&P 500 dropped by 1.7%, and the Nasdaq fell by 2.6%. A weaker-than-expected jobs report added to economic worries, prompting speculation about future Federal Reserve interest rate cuts.

Sep 7, 2024 - 11:00

US stock market faces worst week in nearly 18 months following weak jobs data report

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US stock markets faced a significant downturn on Friday, driven by declines in tech stocks such as Broadcom and Nvidia. The S&P 500 dropped by 1.7%, and the Nasdaq fell by 2.6%. A weaker-than-expected jobs report added to economic worries, prompting speculation about future Federal Reserve interest rate cuts.