News Formal

Stock market today: Dow falls 1,000 points as recession fears fuel calls for interest rate cut

  • 📰 ABC7Chicago
  • ⏱ Reading Time:
  • 29 sec. here
  • 11 min. at publisher
  • 📊 Quality Score:
  • News: 46%
  • Publisher: 63%

Stock Market News

Recession,Japanese Stock Market Today,Japan Stock Market

Each of the major stock indexes fell more than 2% in early trading on Monday.

The major stock indexes in the U.S. fell more than 2% in early trading. The S&P 500 fell about 4%, while the tech-heavy Nasdaq dropped more than 6%. The Dow Jones Industrial Average fell roughly 1,000 points, or nearly 3%.

The market downturn triggered calls for a large interest rate cut at the Federal Reserve's next meeting in September. Some investors voiced an even more urgent request for a rare emergency rate cut as soon as this week.In early U.S. trading, chipmaker Nvidia plunged more than 14%. Apple fell more than 8%.

Employers hired 114,000 workers in July, falling well short of economist expectations of 185,000 jobs added, U.S. Bureau of Labor Statistics data on Friday showed. The unemployment rate climbed to 4.3%, the highest level since October 2021.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 284. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Dow falls 1,000 points as recession fears fuel calls for interest rate cutEach of the major stock indexes fell more than 2% in early trading on Monday.
Source: ABC7NY - 🏆 592. / 51 Read more »

Stock market today: Dow falls 1,000 points as recession fears fuel calls for interest rate cutEach of the major stock indexes fell more than 2% in early trading on Monday.
Source: 6abc - 🏆 250. / 63 Read more »

Stock Market Today: Dow in 4th weekly win as data puts September rate cut in playStock Market Today: Dow in 4th weekly win as data puts September rate cut in play
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: Dow closes above 41,000 for first time as rotation gains steamStock Market Today: Dow closes above 41,000 for first time as rotation gains steam
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: Dow delivers best day in more than a year on stronger earningsStock Market Today: Dow delivers best day in more than a year on stronger earnings
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: Dow in record close as Powell acknowledges inflation progressStock Market Today: Dow in record close as Powell acknowledges inflation progress
Source: Investingcom - 🏆 450. / 53 Read more »