Benzinga
Published Oct 07, 2022 19:38
Updated Oct 07, 2022 20:10
Dow Drops Over 2%; S&P 500 Down Over 100 Points
U.S. stocks extended losses toward the end of trading, with the Dow Jones dropping more than 650 points on Friday.
The Dow traded down 2.21% to 29,265.30 while the NASDAQ fell 3.75% to 10,657.93. The S&P 500 also fell, dropping, 2.81% to 3,639.39.
Also check this: Dow Dips Over 300 Points, Volatility In Markets Increases
Leading and Lagging Sectors
Energy shares jumped by 0.2 % on Friday. Leading the sector was strength from KLX Energy Services Holdings, Inc. (NASDAQ: KLXE) and Nine Energy Service, Inc. (NYSE: NINE).
In trading on Friday, information technology shares fell by 4.2%.
Top Headline
The US economy added 263,000 jobs in September, the least since April 2021, but still above analysts’ estimates of 250,000. The US unemployment rate declined to 3.5% in September, while average hourly earnings rose 0.3% to $32.46 in September.
Equities Trading UP
Equities Trading DOWN
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Commodities
In commodity news, oil traded up 4.3% to $92.29, while gold traded down 0.8% at $1,706.90.
Silver traded down 2.1% to $20.235 on Friday while copper fell 1.7% to $3.3865.
Euro zone
European shares closed lower today. The eurozone’s STOXX 600 fell 1.18%, London’s FTSE 100 fell 0.09% while Spain’s IBEX 35 Index fell 0.99%. The German DAX dropped 1.59%, French CAC 40 fell 1.17% and Italy’s FTSE MIB Index fell 1.13%.
France recorded a current account deficit of EUR 5.1 billion in August versus a EUR 5.3 billion gap in the prior month, while trade deficit increased to EUR 15.3 billion in August from revised EUR 14.8 billion in July.
Labor productivity in the UK rose by 0.3% on quarter during the three months to June, while Halifax house price index rose 9.9% year-over-year in September. Industrial production in Germany declined 0.8% month-over-month in August, while retail sales fell 1.3% month-over-month in August. Import prices in Germany climbed by 32.7% year-over-year in August.
Economics
Check out this: Investor Fear Increases Ahead Of US Jobs Data
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 98,474,750 cases with around 1,087,350 deaths. India confirmed a total of at least 44,606,460 cases and 528,750 deaths, while France reported over 35,705,230 COVID-19 cases with 155,360 deaths. In total, there were at least 625,747,770 cases of COVID-19 worldwide with more than 6,558,400 deaths.
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