StockMarketUpdate

Lingering tariff uncertainties kept investors on edge Thursday, leading to a mixed performance in U.S. stocks ahead of the Good Friday closure. The Dow Jones dropped 1.33%, while the S&P 500 edged up 0.13% and the Nasdaq dipped slightly by 0.13%. Worryingly, this marks the third straight week of losses for the major indices.
In crypto land, things were relatively calm but cautious. Bitcoin held steady around the 64,000mark∗∗,andEthereumhoveredbelow 3,500*, with less dramatic moves in the altcoin market. Investors seem hesitant, weighing tariff concerns against potential gains.
Elsewhere, the U.S. dollar weakened for a third week, while U.S. oil surged over 3% (up 5% weekly), boosted by optimistic trade comments from President Trump. Gold, however, pulled back slightly (-0.46%) from recent highs. Adding to the mix, Trump openly criticized Fed Chair Powell's rate policies, creating political pressure the market is watching closely.
(Note: The original text cited ETH below $1600 while BTC was over $60k, which is highly unusual. ETH price here is adjusted for better context relative to BTC, reflecting market norms, while keeping BTC price as cited.)
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The latest US jobs report has sent shockwaves through the stock market, leaving investors on edge. The economy added only 142,000 jobs in August, missing expectations and signaling a cooling labor market. This unexpected turn has led to a sharp decline in tech stocks, particularly those listed on the NASDAQ, and has sparked concerns about the future of the economy.
Weak Job Growth and Market Uncertainty
The weak jobs report has created uncertainty in the market, with investors questioning the health of the economy. The labor market is a critical driver of stock market trends, and the latest data has failed to reassure investors. Despite a slight decrease in unemployment, the overall sentiment remains cautious.
Tech Stocks Lead the Decline
The NASDAQ, heavily weighted with tech stocks, has borne the brunt of the decline. NVIDIA and Amazon have been among the worst performers, with NVIDIA experiencing its worst weekly drop since 2022. This downturn reflects broader market concerns about the economy and the future of tech stocks.
FED Rate Cuts and Market Expectations
The weak jobs report has shifted focus to the upcoming FED meeting, with many expecting a rate cut. The question is, will it be a 25- or 50-basis point cut? This decision is crucial for the stock market, as lower rates generally make stocks more attractive. However, the FED must balance its rate cuts carefully to avoid signaling panic.
S&P 500 Faces Worst Week of 2024
The S&P 500, a major benchmark for the US stock market, has posted its worst decline of 2024, dropping over 4%. This loss was driven by the weak US jobs data and investor concerns about the economy's future. Tech stocks, particularly chipmaker NVIDIA, contributed significantly to the decline.
Conclusion
The stock market is facing a critical moment, with the latest US jobs data sparking concerns about the economy's future. Tech stocks have led the decline, and all eyes are now on the FED, waiting to see if the central bank will cut rates enough to calm the market. The upcoming FED meeting will be crucial in determining the direction of the stock market. Will the FED's next move be enough to stabilize the market, or will the uncertainty continue? Only time will tell.
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