Stock markets plunge as weak US jobs fuel fears

Quick Summary:

Worse-than-expected employment data adds to concerns that the US is facing a slowdown.

Intel shares also plunged more than 27%, after the chipmaker warned it would need to take drastic action to restore growth, including cutting more than 15,000 jobs.

Friday's report from the Labor Department showed the unemployment rate rising to 4.3% - the highest rate since 2021 and up from 3.5% a year ago.

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Article Details

Category: Business

Markets: United KingdomIndiaIreland

Topics: Stock Markets Growth Dropped Economy Figures Rate Jobs Unemployment Rates

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-02 @ 20:40:53 (2 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 767 words

Reading Time: 5 minutes read

Sentences: 27 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 21925958

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About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 2 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 16 hours ago

Coverage Areas: United Kingdom

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Publisher ID: #43

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