Saturday, 05 Sep 2020 07:25 AM MYT
US job growth slowed in August as financial aid from the government was depleted, with nonfarm payrolls increasing by 1.371 million jobs versus 1.734 million in the prior month. Expectations were for the addition of 1.4 million jobs. The unemployment rate fell to 8.4 per cent from 10.2 per cent. The Dow Jones Industrial Average fell 159.42 points, or 0.56 per cent, to 28,133.31, the S&P 500 lost 28.13 points, or 0.81 per cent, to 3,426.93, and the Nasdaq Composite dropped 144.97 points, or 1.27 per cent, to 11,313.13.The pan-European STOXX 600 index lost 1.13 per cent to close down 2.03 per cent on the week. MSCI’s gauge of stocks across the globe shed 0.95 per cent to end the week and give the index its biggest weekly percentage drop since mid-June.
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