Wall Street tumbles over 300 points

Economies.com
1 year ago

US stock indices declined on Friday despite a strong US jobs report earlier today.

 

The US economy added 428 thousand new jobs in April, beating estimates of 390 thousand handily, and compared to March's revised reading of 428 thousand. 

 

US average earnings rose 0.3% in April, missing estimates of a 0.4% rise, and worse than the 0.5% rise in the previous reading. 

 

US unemployment remained at 3.6% in April, same as the March reading, the lowest in two years, and missing estimates of 3.6%.

 

Dow Jones fell 0.9% to 32,680, while S&P 500 shed 1.1% to 4,100, as NASDAQ gave up 1.4% to 12,142. 

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