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US jobs surge, tech concerns whiplash stocks and send dollar higher

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A surge in hiring in the United States renewed worries about aggressive interest rate hikes on Friday, bolstering the dollar and whiplashing Wall Street stocks.

Meanwhile, disappointing earnings reports from Apple, Amazon, and Google owner Alphabet added to unease about the outlook for the crucial tech sector after torrid growth early in the pandemic.

Shares of Amazon and Google parent Alphabet both tumbled Friday, while Apple shook off early weakness and finished higher.

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Rand takes hit as US jobs surge sends dollar higher | BusinessA surge in hiring in the United States renewed worries about aggressive interest rate hikes, bolstering the dollar and whiplashing Wall Street stocks. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »