) hovering around session lows with less than an hour before the close, after Friday's weaker-than-expected jobs report sent markets into a downward spiral.showed the US economy added 114,000 nonfarm payroll jobs in July - far fewer than than 175,000 expected by economists. The unemployment rate jumped more than expected, to 4.3% - its highest level since October 2021.All right, we got one hour to go until the market closed and we are seeing a steep sell off for the major averages here.
And Wednesday wasn't a bad day by the day, but things quickly soured in the middle of the day and it's been heading down for the better part of the half, the, the back half of this week since midday, Wednesday.Remember the Russell 2000, which was just really perking up, getting people excited that might actually have a chance of getting new highs because it hasn't in several years.
You can see that big spike up here, but this is concerning uh you start seeing the VICS perk up like this and trending higher with higher highs that just points to the fact that we're probably heading into a period of more serious corrections here.Only staples in the green here, we have consumer discretionary down 4% tech down 3%.Almost 6% are seeing some strength in the interest rate, sensitive portions of the market that would be utilities and real estate.
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