1 Day
Source:
The Boston Globe
US stocks see worst day since October
The U.S. stock market experienced its worst day since October, driven by a decline in major technology stocks and a strong jobs report that increased expectations of interest rate hikes by the Federal Reserve. The S&P 500 fell 2.6%, the Dow dropped 695 points, and the Nasdaq declined 4.2%, amid concerns over inflation and rising bond yields. The Labor Department reported a surprise addition of 172,000 jobs in May, supporting the outlook for higher interest rates, while oil prices fell amid ongoing geopolitical tensions.
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