August Jobs Report Roils Wall Street, Asian Indices Under Pressure; D-Street To Open In The Red?

US stocks ended lower on Friday after the jobs report showed a continued labor market slowdown. The S&P 500 and the Dow had their biggest weekly drop since March 2023, with the Nasdaq registering its biggest weekly fall since January 2022.

The Dow Jones Industrial Average declined 410.34 points, or 1.01%, to 40,345.41, while the S&P 500 dropped 94.99 points, or 1.73%, to 5,408.42. The Nasdaq Composite ended 436.83 points, or 2.55%, lower at 16,690.83.

Asian markets traded lower on Monday, with Japan’s Nikkei 225 leading losses in the region.

Nikkei plunged 3.02%, dropping below the psychologically key 36,000 mark for the first time since August 13, while the Topix declined 2.84%. South Korea’s Kospi dropped 1.99% and the Kosdaq fell 1.72%. Hong Kong Hang Seng index futures indicated a lower opening.

Gift Nifty was trading around 24,832 level, a discount of nearly 80 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

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