US Stocks Plunge Over 500 Points After Strong Jobs Data Raises Rate Concerns

Economy

1 year ago

News sources:

Credited from: CNN

US stocks experienced a significant decline on Friday, with the Dow falling more than 550 points, around 1.3%.
The December jobs report indicated significant job growth, with 256,000 positions added, surpassing expectations of 153,000.
Traders are now anticipating a low probability of the Federal Reserve cutting interest rates soon, amounting to only 2.7% based on current forecasts.
The market was further pressured by President-elect Donald Trump's tariff proposals, leading to rising bond yields, with the 10-year treasury reaching 4.725%.
Overall, market sentiment was marked by extreme fear, affecting both stock and bond prices, as analysts noted a potential delay in rate cuts.

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