Wall Street opens lower and bond yields sink following weak hiring numbers and new tariffs
Wall Street opens lower and bond yields sink following weak hiring numbers and new tariffs
NEW YORK (AP) — Stocks are opening lower on Wall Street and Treasury yields are falling sharply after the government reported a sharp slowdown in hiring last month. Markets are also reacting early Friday to the latest tariff news. The S&P 500 fell 1% in the first few minutes of trading.
The Dow Jones Industrial Average sank 383 points, or 0.8%. The Nasdaq composite was down 1.4%. The suprisingly weak hiring numbers led investors to step up their expectations for an interest rate cut in September.
President Donald Trump issued a new set of sweeping import duties that will apply to dozens of countries as of Aug. 7.
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