### Dow Closes Down 600 Points, Nasdaq Enters Correction After Weak Jobs Report: Live Updates

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### Stocks Plummet on Weaker-than-Expected Jobs Report, Nasdaq Enters Correction https://verseexposurethanksgiving.com/sbud321b?key=5d9fb63375d2c5ed4654dbedad088b62 Stocks tumbled on Friday as a significantly weaker-than-expected July jobs report sparked concerns about a potential recession. The broad market index fell 1.84% to close at 5,346.56. The Nasdaq Composite dropped 2.43% to end at 16,776.16, marking a decline of over 10% from its recent all-time high. The Dow Jones Industrial Average slid 610.71 points, or 1.51%, to finish at 39,737.26, hitting a session low down 989 points. The market decline followed news that U.S. job growth in July slowed more than anticipated, with the unemployment rate climbing to its highest level since October 2021. Nonfarm payrolls increased by just 114,000 last month, a decrease from the 179,000 jobs added in June and below the 185,000 economists had expected. The unemployment rate rose to 4.3%. The 10-year Treasury yield dropped to its lowest point since December as investors sought safety in bonds, fearing the Federal Reserve erred by maintaining current interest rates this week.

Major tech stocks suffered significant losses, particularly after Amazon’s second-quarter results raised concerns about Big Tech’s heavy investment in artificial intelligence. Amazon's shares fell 8.8% following a revenue miss and a disappointing forecast. Intel plunged 26% after issuing weak guidance and announcing layoffs. Nvidia lost 1.8%, adding to a 6% loss from the previous day. The Nasdaq is the first of the three major indices to enter correction territory, down more than 10% from its record high. The S&P 500 and Dow are also down, by 5.7% and 3.9% from their all-time highs, respectively.

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