📉 Dow Jones falls due to strong jobs data, markets are worried about Federal Reserve policy 🏦
- The Job Openings and Labor Turnover Survey (JOLTS) reported 9.6 million job openings in the US at the end of August, higher than 8.92 million in July.
- The quit rate fell to 2.3% in August, the lowest since January 2021.
- The stock market reacted negatively: Dow Jones fell 0.8%, S&P 500 and Nasdaq Composite fell almost 1.0% and 1.4%.
- Markets await the September jobs report, expected to add 170,000 jobs with the unemployment rate remaining at 3.8%.
- The 10-year US Treasury yield rose to 4.76%, the highest since 2007, affecting megacap stocks.
Conclusion: Strong jobs data rocked financial markets, causing major stock indexes to decline. Investors remain alert to changes in Federal Reserve policy regarding labor market conditions.