Wall Street opens over 1% lower

Economies.com
2018-12-10 15:58PM UTC

US stock indices opened the first session of the week sharply lower, weighed down by finance and healthcare shares, while Apple's shares weighed on the tech sector amid concerns over growth rates in the US and continuous tensions with Beijing, in addition to Brexit uncertainty. 

 

From the US, an index tracking job opportunities rose to 7.08 million from 6.96 million in September, missing estimates of 7.22 million.  

 

Payrolls data released last Friday showed the unemployment rate steadied at 3.7% in November as expected, the lowest since 1969. 

 

US average earnings rose 0.2% in November, missing estimates of 0.3% and matching the pace of October. 

 

The US economy added 155 thousand new jobs in November, missing estimates of 198K, and compared to October's 237K increase, revised from 250K. 

 

The ongoing US-Sino trade war entered into a recent truce but still weighs on market appetite and pushes investors towards safer havens, in turn damaging stocks. 

 

Stock Performance  

 

As of 03:55 GMT, Standard and Poor's 500 shed 1.31%, or 34.40 points to 2,598.68, while Dow Jones dropped 1.37%, or 333.24 points to 24,055.71. 

 

Tech-heavy NASDAQ declined 0.56%, or 39.12 points to 6,930.13. 

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