Live Markets: Nasdaq down 2%, leads selloff in US stocks

Elis SA

06/09/2024 17:19

* 
      Major stock indexes down: Nasdaq tumbles >2%
    

        * 
      All 11 S&P sectors red; tech down most
    

        * 
      STOXX 600 slides ~1.1%
    

        * 
      Dollar up; gold, oil down; bitcoin down >3% 
    

        * 
      U.S. 10-yr Treasury yield dips to 3.7%
    

  
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    NASDAQ DOWN 2%, LEADS SELLOFF IN US STOCKS
    After opening slightly higher, major U.S. stock indexes
turned lower and were down sharply by midday Friday. 
    The Nasdaq  .IXIC  was down more than 2%, leading the
selloff, after a mixed U.S. monthly jobs report did little to
clear up the outlook for potential rate cuts by the Federal
Reserve.
     The Labor Department report showed U.S. employment
increased less than expected in August, but a drop in the
jobless rate to 4.2% suggested an orderly labor market slowdown
continued.
     That suggested to some that there was little reason for a
big interest rate cut from the Federal Reserve this month.
    All of the major S&P 500 sectors were lower, with the S&P
500 technology sector  .SPLRCT  down more than 2% and leading
the declines.
    Here is the midday market snapshot:
    
    (Caroline Valetkevitch)
    *****
    
    FRIDAY'S EARLIER LIVE MARKETS POSTS:
    
    JOBS REPORT DRILL-DOWN: SOFT, YES, BUT 50-BASIS-POINTS SOFT?
- CLICK HERE
    
    ETHEREUM, ANY TAKERS? - CLICK HERE
    
    S&P 500 E-MINIS NEAR FLAT, PARE LOSSES AFTER US PAYROLLS -
CLICK HERE

    "BINARY" OUTCOME LIKELY FOR JOBS REPORT - CLICK HERE
    
    THE BARNIER EFFECT - CLICK HERE
    
    STOXX 600 FALLS BEFORE PAYROLLS TEST - CLICK HERE
    
    EUROPEAN FUTURES SLIP BEFORE HOTLY ANTICIPATED JOBS REPORT -
CLICK HERE
    
        ALL ABOUT THEM PAYROLLS - CLICK HERE
    

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midday snapshot    https://tmsnrt.rs/4egynwj
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